Comments on: IRA Contribution Limits And Income Limits https://thecollegeinvestor.com/20903/ira-contribution-income-limits/ Navigating Money And Education Fri, 01 Nov 2024 18:16:31 +0000 hourly 1 By: Robert Farrington https://thecollegeinvestor.com/20903/ira-contribution-income-limits/#comment-343779 Sun, 04 Nov 2018 15:49:15 +0000 https://thecollegeinvestor.com/?p=20903#comment-343779 In reply to Aaron Grober.

It’s not new – it’s the limits that allow you to deduct the contribution to your IRA. You can always do a non-deductible IRA if you exceed these limits (and roll that over for a backdoor).

You can find the updated limits here on the IRS website: https://www.irs.gov/newsroom/401k-contribution-limit-increases-to-19000-for-2019-ira-limit-increases-to-6000

]]> By: Aaron Grober https://thecollegeinvestor.com/20903/ira-contribution-income-limits/#comment-343778 Sun, 04 Nov 2018 15:36:25 +0000 https://thecollegeinvestor.com/?p=20903#comment-343778 I have been using backdoor traditional to Roth Conversion for the past several years and have never heard of income limits for a traditional IRA. Please provide the source that states there are income limits to contribute to a traditional IRA (the source that supports this table you provided).

2019 Traditional IRA Income Limits

Filing Status

Traditional IRA

Married, Filing Jointly, With Workplace Plan

Phase out starting at $103,000 – $123,000

Married, Filing Jointly, Without Workplace Plan

Phase out starting at $193,000 – $203,000

Married, Filing Separately

Phase out starting at $0 – $10,000

Single

Phase out starting at $122,000 – $137,000

Single, Covered By Workplace Retirement Plan

Phase out starting at $64,000 – $74,000

This must be new, but I cannot find this information anywhere but here.

]]>