How much can I contribute to my IRA?
The amount that can be contributed to your IRA is based upon IRS annual contribution limits. Please see IRS Publication 590A for current information.
For 2020, your total contributions to all of your traditional and Roth IRAs cannot be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- your taxable compensation for the year, if your compensation was less than this dollar limit.
For 2019, the limits are the same as 2020.