IRA Limits
The annual IRA contribution limit in both 2020 and 2019 is $6,000 for people under 50, up from $5,500 in 2018. But there are additional restrictions that will affect some people.
The annual IRA contribution limit in both 2020 and 2019 is $6,000 for people under 50, up from $5,500 in 2018. But there are additional restrictions that will affect some people.
In both 2019 and 2020, the annual contribution limit for Roth and traditional IRAs is:
Under age 50: $6,000 (up from $5,500 in 2018).
Age 50 or older: $7,000 (up from $6,500 in 2018).
If you contribute to both a Roth IRA and a traditional IRA, the combined annual limit is $6,000 (or $7,000 if 50 or older).