IRA Contribution Limits
| Education IRA | |||
| Single Filers | MAGI
of
$95,000
or less |
MAGI
Between $95,000 and $110,000 Partial Contribution |
MAGI of
$110,000
or More No Contribution |
| Married, Joint Filers | MAGI of
$190,000
or less Full $2000 Contribution |
MAGI
Between $190,000 and $220,000 Partial Contribution |
MAGI of
$220,000
or More |
| Single Filers | MAGI of
$95,000
or less Full $500 Contribution |
MAGI
Between $95,000 and $110,000 Partial Contribution |
MAGI of
$110,000
or More No Contribution |
| Married, Joint Filers | MAGI of
$150,000
or Less Full $2,000 Contribution |
MAGI of
Between $150,000 and $160,000 Partial Contribution |
MAGI of
$160,000
or More No Contribution |
|
Modified Adjusted Gross Income (MAGI) |
Deduction | |
1. Not active Participant |
Unlimited Income |
Total Deduction Subject to IRA Limit |
|
2. Active Participant/ Individual (Except Married, Filing Separately) |
$40,000 or Less |
Total Deduction Subject to IRA
Contribution Limit |
|
3. Active Participant/ Married Persons
Filing Jointly |
$60,000 or Less |
Total Deduction Subject to IRA
Contribution Limit |
|
4. Active a. Single b. Married c. Married (Filing Separately) |
Between MAGI Limits $40,000 - $50,000 $60,000 - $70,000 $0 - $10,000 |
Partial Deduction Partial Deduction Partial Deduction |
|
5. Active |
Over Threshold Amount for Filers |
IRA Is Not Deductible |
|
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