IRA Contribution Limits for 2026 (Income Rules Included)
Everything you need to know about how much you can contribute to your IRA this year—and who can contribute.
By CashSmartGuide Editorial Team - Last updated: January 2026 | 6 min read
You're ready to contribute to an IRA this year. Smart move. But how much can you actually put in? And are there income limits that might block you from contributing at all?
IRA contribution rules change almost every year, and getting them wrong means either leaving money on the table or accidentally over-contributing and facing penalties. The income rules are especially confusing because they're different for traditional and Roth IRAs, and they phase out gradually rather than cutting off at a hard number.
I'm going to give you the exact numbers for 2026, explain the income phase-outs in plain English, and show you what to do if you're over the limits. No confusing IRS jargon, just the facts you need.
The Quick Answer
For 2026, you can contribute up to $7,000 to your IRA if you're under 50, or $8,000 if you're 50 or older (the extra $1,000 is called a catch-up contribution). These limits apply to your total contributions across all traditional and Roth IRAs combined—not per account.
Roth IRA has strict income limits—high earners can't contribute at all. Traditional IRA has no income limit for contributing, but if you're covered by a workplace retirement plan, high earners can't deduct their contributions.
2026 IRA Contribution Limits
Standard Contribution Limit
For individuals under age 50
With Catch-Up Contribution
For individuals age 50 and older
Important: Combined Limit Across All IRAs
The $7,000 (or $8,000) limit is your total across all traditional and Roth IRAs combined. If you have three different IRA accounts, you still can't contribute more than $7,000 total across all of them. You could put $4,000 in a traditional IRA and $3,000 in a Roth IRA, but the total can't exceed your limit.
The Catch-Up Contribution at Age 50
Once you turn 50, you get an extra $1,000 in contribution room. This is designed to help people who are behind on retirement savings accelerate their contributions as they approach retirement. You don't need to do anything special—you're simply allowed to contribute the higher amount starting the year you turn 50.
You Must Have Earned Income
You can only contribute if you have earned income (wages, salary, self-employment income). Your contribution can't exceed your earned income. If you only made $5,000 this year, you can only contribute $5,000 even though the limit is $7,000. Investment income, rental income, and Social Security don't count as earned income for IRA purposes.
Contribution Deadline
You have until the tax filing deadline (typically April 15, 2027) to make your 2026 IRA contribution. This gives you extra time to contribute even after the year ends. You can make 2026 contributions anytime from January 1, 2026 through April 15, 2027.
When you contribute in the first few months of 2027, make sure to tell your IRA provider whether it's for 2026 or 2027—this matters for tax reporting.
Roth IRA Income Limits for 2026
Roth IRA has strict income limits. If you earn too much, you can't contribute directly to a Roth IRA at all. The limits phase out gradually—you don't just hit a wall where suddenly you can't contribute anything.
| Filing Status | Phase-Out Range (MAGI) | Status |
|---|---|---|
| Single / Head of Household | $150,000 - $165,000 | Partial to zero contribution |
| Married Filing Jointly | $236,000 - $246,000 | Partial to zero contribution |
| Married Filing Separately* | $0 - $10,000 | Partial to zero contribution |
*If you lived with your spouse at any time during the year
How the Phase-Out Works
The phase-out means your allowed contribution gradually decreases as your income increases within the range. Here's how it works:
Below the range: You can contribute the full $7,000 (or $8,000 if 50+)
Within the range: Your contribution limit gradually decreases
Above the range: You cannot contribute to a Roth IRA at all
Example: Single Filer Making $157,500
The phase-out range for single filers is $150,000 to $165,000. Someone earning $157,500 is exactly halfway through the range.
• Income: $157,500
• Phase-out start: $150,000
• Income above start: $7,500
• Total phase-out range: $15,000
• Percentage through range: 50%
• Allowed contribution: $3,500 (50% of $7,000)
The calculation: $7,000 - ($7,000 × $7,500/$15,000) = $3,500
Traditional IRA Deduction Limits for 2026
Anyone can contribute to a traditional IRA regardless of income. But whether you can deduct your contribution depends on your income and whether you're covered by a retirement plan at work (like a 401(k)).
Not Covered by a Workplace Plan?
If neither you nor your spouse is covered by a retirement plan at work, you can deduct your full traditional IRA contribution regardless of income. There are no income limits in this scenario. This applies to self-employed people without their own retirement plan, or employees whose companies don't offer 401(k)s.
If You're Covered by a Workplace Plan
| Filing Status | Phase-Out Range (MAGI) | Deduction Status |
|---|---|---|
| Single / Head of Household | $79,000 - $89,000 | Partial to zero deduction |
| Married Filing Jointly | $126,000 - $146,000 | Partial to zero deduction |
| Married Filing Separately | $0 - $10,000 | Partial to zero deduction |
If Your Spouse Is Covered (But You're Not)
| Filing Status | Phase-Out Range (MAGI) | Deduction Status |
|---|---|---|
| Married Filing Jointly | $236,000 - $246,000 | Partial to zero deduction |
What Happens Above the Phase-Out Range
You can still contribute to a traditional IRA even if you're above the income limits—you just can't deduct it on your taxes. This is called a non-deductible IRA contribution. It's generally not worth doing unless you plan to immediately convert it to a Roth IRA (backdoor Roth strategy). For most high earners, focusing on 401(k) contributions or using the backdoor Roth method makes more sense.
What Is MAGI and How Do You Calculate It?
All these income limits are based on your Modified Adjusted Gross Income (MAGI), not your gross income or your taxable income. MAGI is a specific calculation the IRS uses for determining eligibility for various tax benefits.
Simple MAGI Calculation
For most people, MAGI is very close to your Adjusted Gross Income (AGI), which is on line 11 of your Form 1040. Here's the basic calculation:
Start with your AGI (line 11 of Form 1040)
Add back:
• Traditional IRA deduction
• Student loan interest deduction
• Tuition and fees deduction
• Foreign earned income exclusion
• Foreign housing deduction
• Excluded savings bond interest
• Excluded employer adoption benefits
For Most People
If you're a regular W-2 employee with no unusual deductions, your MAGI is essentially your AGI. The add-backs only apply if you actually claimed those specific deductions. Look at last year's tax return, find your AGI on line 11, and that's a good starting point for estimating your MAGI.
What to Do If You're Over the Income Limits
High income doesn't mean you're locked out of IRA benefits entirely. You have several strategies available.
Strategy 1: Backdoor Roth IRA
This is the most popular workaround for high earners. Here's how it works:
- Contribute to a traditional IRA (anyone can do this, regardless of income)
- Immediately convert the traditional IRA to a Roth IRA
- Pay taxes on any earnings between contribution and conversion (usually minimal)
This legally bypasses the Roth income limits. The IRS allows this strategy. Many high earners use it to get $7,000 into a Roth IRA every year despite being over the income threshold.
Strategy 2: Focus on Your 401(k)
401(k) plans have no income limits. You can contribute up to $23,500 per year ($31,000 if 50+) regardless of how much you earn. If you're blocked from IRA contributions, maxing out your 401(k) should be your priority. Learn more about how 401(k) plans work.
Strategy 3: Spousal IRA
If you're married and one spouse doesn't work (or earns less), the working spouse can contribute to a spousal IRA on behalf of the non-working spouse. This effectively doubles your IRA contribution room to $14,000 per year ($16,000 if both are 50+). Income limits still apply based on the working spouse's income.
Strategy 4: Taxable Brokerage Account
Once you've maxed out tax-advantaged accounts, a regular taxable brokerage account is your next option. No contribution limits, no income restrictions, complete flexibility. You lose the tax benefits, but you can invest unlimited amounts and access the money anytime without penalties.
What Happens If You Contribute Too Much?
Contributing more than your limit is a costly mistake. The IRS charges a 6% penalty tax on excess contributions every year they remain in your account. This penalty repeats annually until you fix the problem.
The 6% Excess Contribution Penalty
If you contribute $8,000 but your limit was $7,000, you have a $1,000 excess contribution. The penalty is 6% of the excess, so $60 per year. This doesn't sound like much, but it continues every year until you remove the excess or it becomes "absorbed" by a year where you don't contribute the full amount.
The penalty is paid on Form 5329 when you file your taxes. It's in addition to regular income taxes.
How to Fix Excess Contributions
You have two main options:
Option 1 - Withdraw Before Tax Deadline: Remove the excess contribution and any earnings on it before your tax filing deadline (including extensions). If you do this, you avoid the 6% penalty. You'll pay taxes and possibly a 10% early withdrawal penalty on the earnings, but not the 6% excess penalty.
Option 2 - Apply to Next Year: Leave the excess in and reduce next year's contribution by the excess amount. For example, if you over-contributed $1,000 in 2026, you could only contribute $6,000 in 2027. You'd still pay the 6% penalty for 2026, but it stops after that.
Contact your IRA provider immediately if you realize you've over-contributed. They can help you process the withdrawal correctly.
2026 Quick Reference Chart
Contribution Limits
Under Age 50
$7,000
Age 50 and Over
$8,000
Roth IRA Income Limits (MAGI)
Single/Head of Household: Phase-out $150,000 - $165,000
Married Filing Jointly: Phase-out $236,000 - $246,000
Married Filing Separately: Phase-out $0 - $10,000
Traditional IRA Deduction Limits (If Covered by 401(k))
Single/Head of Household: Phase-out $79,000 - $89,000
Married Filing Jointly: Phase-out $126,000 - $146,000
Married Filing Separately: Phase-out $0 - $10,000
Key Dates
Contribution Period: January 1, 2026 - April 15, 2027
Tax Filing Deadline: April 15, 2027 (to make 2026 contributions)
Extension Deadline: October 15, 2027 (if you file for extension)
Common Questions
Can I contribute to both a traditional and Roth IRA in the same year?
Yes, but your total contributions across both types cannot exceed $7,000 (or $8,000 if 50+). You could put $4,000 in traditional and $3,000 in Roth, but not $7,000 in each. The limit is combined. Learn more about choosing between traditional vs Roth IRA.
Can I contribute to an IRA if I have a 401(k)?
Yes. You can contribute to both in the same year. The contribution limits are separate—$7,000 for IRA plus $23,500 for 401(k) in 2026. However, having a 401(k) affects whether you can deduct traditional IRA contributions if your income is above certain levels. See can you have both a 401(k) and IRA for details.
What if my income changes during the year?
Your eligibility is based on your final MAGI when you file your tax return. If you contribute early in the year expecting to be under the limit but end up over it, you'll need to withdraw the excess contribution before the tax deadline to avoid penalties. Many people wait until late in the year or even until tax filing season to make IRA contributions once they know their final income.
Do required minimum distributions affect contribution limits?
No. Once you reach age 73, you must take required minimum distributions from traditional IRAs, but you can still make contributions if you have earned income. Contribution limits don't change. You could take your RMD and still contribute $8,000 in the same year if you're working and meet the income requirements.
Can my spouse contribute if they don't work?
Yes, through a spousal IRA. If you file jointly and one spouse has earned income, you can contribute to an IRA for a non-working spouse. The working spouse's income must be at least equal to the total contributions to both IRAs. This effectively lets you contribute $14,000 as a couple ($16,000 if both are 50+).
The Bottom Line
The IRA contribution limit for 2026 is straightforward: $7,000 if you're under 50, $8,000 if you're 50 or older. This applies to your total contributions across all traditional and Roth IRAs combined.
The income limits are more complex. Roth IRA has strict income caps—high earners can't contribute directly at all. Traditional IRA allows contributions regardless of income, but high earners who have workplace retirement plans can't deduct their contributions.
If you're over the Roth income limits, the backdoor Roth IRA strategy is a legal workaround that lets you get money into a Roth anyway. If you're over the traditional IRA deduction limits, focus on maxing out your 401(k) instead.
The most important thing is to actually contribute. Whether you max out the full $7,000 or can only afford $1,000, getting money into an IRA is one of the smartest financial moves you can make. Don't let the complexity of the rules stop you from taking action. If you're ready to get started, see our guide on how to open an IRA account.
Continue Learning About IRAs
Financial Disclaimer
This article provides general educational information about IRA contribution limits and income rules for 2026. It should not be considered personalized tax or financial advice. Tax laws and IRA rules are complex and change frequently. Individual circumstances vary significantly based on income, filing status, workplace benefits, and many other factors. Before making IRA contribution decisions, consult with qualified tax professionals and financial advisors who can analyze your specific situation. The IRS publishes official guidance on IRA rules in Publication 590-A and Publication 590-B.