Roth IRA contribution limits 2020
Whether you can make contributions to a Roth IRA and how much you can contribute depends on a few factors: your filing status, your income, and your age.
When you can contribute the max
You can contribute up to the maximum contribution limit, which is $6,000 (or $7,000 if you’re 50 years old or older) if you’re any of these:
- Your filing status is single, head of household, or married filing separately and you did not live with your spouse at any time during the year AND your modified adjusted gross income (MAGI) is less than $124,000.
- Your filing status is married filing jointly or qualifying widow(er) AND your MAGI is less than $196,000.
Note: the $6,000 is the total contribution limit for all of your traditional and Roth IRAs. Also, if your income is less than $6,000, then you can only contribute up to your total taxable income. For example, if your taxable income was $5,000, you can only contribute up to $5,000.
When you can contribute a reduced amount
You can contribute a reduced amount (refer to this IRS article to determine what your contribution limit is), if you’re any of these:
- Your filing status is single, head of household, or married filing separately and did not live with your spouse at any time during the year AND your MAGI is $124,000 or more and less than $139,000.
- Your filing status is married filing jointly or qualifying widow(er) AND your MAGI is $196,000 or more but less than $206,000.
- Your filing status is married filing separately and you lived with your spouse at any time during the year AND your income is less than $10,000.
When you cannot contribute to a Roth IRA
You cannot make contributions to a Roth IRA if you’re any of these:
- Your filing status is single, head of household, or married filing separately and did not live with your spouse at any time during the year AND your MAGI is $139,000 or more in 2020.
- Your filing status is married filing jointly or qualifying widow(er) AND your MAGI is $206,000 or more.
- Your filing status is married filing separately and you lived with your spouse at any time during the year AND your income is $10,000 or more.
2020 Roth IRA contribution limit summary
| Single, head of household, or married filing separately and you did not live with your spouse at any time during the year | |
|---|---|
| Modified AGI | Contribution Amount |
| < $124,000 | $6,000 ($7,000 if you’re 50 or older) |
| ≥ $124,000 but <$139,000 | a reduced amount |
| ≥ $139,000 | $0 |
| Married filing jointly or qualifying widow(er) | |
|---|---|
| Modified AGI | Contribution Amount |
| < $196,000 | $6,000 each ($7,000 each if you’re 50 or older) |
| ≥ $196,000 but < $206,000 | a reduced amount |
| ≥ $206,000 | $0 |
| Married filing separately and you lived with your spouse at any time during the year | |
|---|---|
| Modified AGI | Contribution Amount |
| < $10,000 | a reduced amount |
| ≥ $10,000 | $0 |