| YEAR | CONTRIBUTION IF UNDER THE AGE OF 50 | CONTRIBUTION IF OVER THE AGE OF 50 | DEADLINE TO OPEN IRA | DEADLINE TO CONTRIBUTE TO IRA |
|---|---|---|---|---|
| 2016 | $5,500 | $6,500 | 4/17/2017 | 4/17/2017 |
| 2017 | $5,500 | $6,500 | 4/16/2018 | 4/16/2018 |
| Contributions to Traditional IRAs stop at 70.5 | ||||
2017 IRA Deduction Limits IF YOU ARE COVERED BY A RETIREMENT PLAN AT WORK
| If Your Filing Status Is… | And Your Modified AGI Is… | Then You Can Take… |
|---|---|---|
| Single or Head of Household | $62,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $62,000 but less than $72,000 | a partial deduction. | |
| $72,000 or more | no deduction. | |
| Married Filing Jointly or Qualifying Widow(er) | $99,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $99,000 but less than $119,000 | a partial deduction. | |
| $119,000 or more | no deduction. | |
| Married Filing Separately | less than $10,000 | a partial deduction. |
| $10,000 or more | no deduction. |
2017 IRA Deduction Limits IF YOU ARE NOT COVERED BY A RETIREMENT PLAN AT WORK
| If Your Filing Status Is… | And Your Modified AGI Is… | Then You Can Take… |
|---|---|---|
| Single, Head of Household, or Qualifying Widow(er) | any amount | a full deduction up to the amount of your contribution limit. |
| Married Filing Jointly or Separately with a spouse who is not covered by a plan at work | any amount | a full deduction up to the amount of your contribution limit. |
| Married filing jointly with a spouse who is covered by a plan at work | $186,000 or less | a full deduction up to the amount of your contribution limit. |
| more than $186,000 but less than $196,000 | a partial deduction. | |
| $196,000 or more | no deduction. | |
| Married filing separately with a spouse who is covered by a plan at work | less than $10,000 | a partial deduction. |
| $10,000 or more | no deduction. |
The above tables were produced from the information available on www.IRS.gov . If you are looking for more updated information, please visit www.IRS.gov.