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m-witek
New Member

My turbotax online is telling me that the limit for trad iras in 2025 is $8K. But for people over 50, it shd be 8,600, correct?

 
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2 Replies

My turbotax online is telling me that the limit for trad iras in 2025 is $8K. But for people over 50, it shd be 8,600, correct?

8,600 is for next year  2026.  For  2025 it is still the same $8,000.  See IRS pub 590A

https://www.irs.gov/pub/irs-pdf/p590a.pdf 

MindyB
Employee Tax Expert

My turbotax online is telling me that the limit for trad iras in 2025 is $8K. But for people over 50, it shd be 8,600, correct?

No, the $8,600 limit you’re thinking of is actually for tax year 2026 (the taxes you will file a year from now). 

 

For the 2025 tax year, the IRS limits are:  Base Limit: $7,000 + Catch-up (Age 50+): $1,000 = $8,000.

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