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Filing Status. 2024 Phase-Out Range. 2025 Phase-Out Range. Single (covered by a workplace retirement plan) $77,000–$87,000. $79,000–$89,000. Married filing jointly (IRA contributor covered)
Saving for retirement will get a boost in 2025 thanks to higher contribution limits and the phase-in of provisions stemming from the Secure 2.0 Act. ... plan at work phases out for modified ...
Tax Filing Status. 2024 MAGI. 2025 MAGI. Traditional IRA Deduction. Single individuals covered by a workplace retirement plan. $77,000 or less. $79,000 or less
For direct contributions to Roth IRAs, contribution limit is reduced in a "phase-out" range, for single MAGI > $146,000 and joint MAGI > $236,000 [6] (For this purpose, however, MAGI excludes any Roth conversions. [7]) Contribution limit does not apply to conversions from traditional IRA (or qualified employer plans) to Roth IRA. Contribution notes
Keep reading for new IRA rules. ... your current brokerage, check out our top brokerage account list ... standard and $1,000 catch-up contribution yet again in 2025 for traditional and Roth IRAs ...
If you're ready to save more money for retirement, the new 2025 IRA contribution rules could help. See how people aged 50 and over can save extra in 2025. ... You can choose a traditional IRA and ...