IRA Contribution Limit and Phase-Out Checker (2026)
Example: Modified Adjusted Gross Income (MAGI): 85000 $ · Your age: 45 · Covered by workplace plan (1=yes, 0=no): 1 · Filing status (0=single, 1=married): 0
| Your 2026 Roth IRA contribution limit | $7,500 |
| Your 2026 deductible traditional IRA limit | $4,500 |
| Total IRA limit (before phase-out) | $7,500 |
| Catch-up amount if age 50+ | $0 |
Worked example
A single 45-year-old with $85,000 MAGI who participates in a 401(k): for 2026 the deductible traditional IRA phase-out runs from $81,000 to $91,000 for singles with a workplace plan. At $85,000 they are 40% of the way through that range, so the deductible limit is reduced to $4,500 (partial) and the remaining $3,000 could go in as a non-deductible contribution. The Roth phase-out for singles runs $153,000–$168,000, so the full $7,500 Roth contribution is available. This person should prioritize Roth over a non-deductible traditional contribution.
Frequently asked questions
What is MAGI for IRA purposes?
Modified Adjusted Gross Income (MAGI) for IRA purposes starts with your AGI and adds back items like student loan interest deductions, foreign income exclusions, and traditional IRA deductions. For most people, MAGI equals AGI. IRS Pub 590-A has the exact add-back list.
Can I contribute to both a traditional and Roth IRA?
Yes — the $7,500 limit for 2026 is an aggregate cap across all your IRAs combined. You can split between traditional and Roth however you like, as long as the total does not exceed $7,500 ($8,600 if 50+, being $7,500 plus the $1,100 catch-up). Both accounts benefit from tax-advantaged growth even with different tax timing.
What if my income is above the Roth limit?
High earners above the Roth phase-out can use the 'backdoor Roth' strategy: contribute to a non-deductible traditional IRA (no income limit) and then convert it to Roth. The conversion is tax-free if you have no other pre-tax IRA balances (watch the pro-rata rule). Consult a tax advisor for execution details.
What happens if I contribute too much?
An excess IRA contribution is subject to a 6% excise tax per year until corrected. Correct it by withdrawing the excess plus any attributable earnings before the tax filing deadline (including extensions). The 6% penalty is small but avoidable — always check your limit before contributing.