Your IRA contribution may be limited by several factors:
For a traditional IRA the contribution limit is $7,000 ($8,000 if over 50).
There are also restrictions based on your Adjusted Gross Income (AGI).
- Modified AGI limit for traditional IRA contributions. For 2025, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is:
- More than $126,000 but less than $146,000 for a married couple filing a joint return or a qualifying surviving spouse,
- More than $79,000 but less than $89,000 for a single individual or head of household, or
- Less than $10,000 for a married individual filing a separate return.
In addition there are restrictions based on other retirement accounts.
- Modified AGI limit for certain married individuals.
- If you are married and your spouse is covered by a retirement plan at work and you aren’t, and you live with your spouse or file a joint return, your deduction is phased out if your modified AGI is more than $236,000 but less than $246,000 (up from $240,000 for 2024).
- If your modified AGI is $246,000 or more, you can’t take a deduction for contributions to a traditional IRA.
Please see the IRS Publication referring to IRA contribution limits for 2025
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