See how much you can contribute to your Traditional IRA in 2026 and how much of it you can actually deduct based on your workplace-plan coverage and income.
Contribution room
$7,000
of $7,000 limit
Deductible amount
$7,000
Fully deductible.
| Year | Under 50 | 50 and over |
|---|---|---|
| 2026 | $7,000 | $8,000 |
| 2025 | $7,000 | $8,000 |
| 2024 | $7,000 | $8,000 |
| 2023 | $6,500 | $7,500 |
| 2022 | $6,000 | $7,000 |
| 2021 | $6,000 | $7,000 |
| 2020 | $6,000 | $7,000 |
The Traditional IRA gives you a tax deduction now, in exchange for paying ordinary-income tax on every dollar you withdraw in retirement. The Roth IRA does the opposite: no deduction on the way in, tax-free withdrawals on the way out (after age 59½ and a 5-year holding period). Which is better depends on whether you expect your retirement tax rate to be higher or lower than today's — most people end up with both.
Traditional IRAs share an annual contribution limit with Roth IRAs ($7,000 in 2026, $8,000 if 50+). Going over costs 6% per year in penalties until you fix it. If you contribute to both accounts at different brokers, neither one knows about the other — which is exactly when over-contribution mistakes happen. WealthWatch tracks both balances against the combined limit.
The 2026 Traditional IRA contribution limit is $7,000 for individuals under 50, or $8,000 if you're 50 or older. This combines with any Roth IRA contributions you make.
If neither you nor your spouse is covered by a workplace retirement plan, your full Traditional IRA contribution is deductible regardless of income. If you are covered, the deduction phases out with income — see the calculator above.
You have until April 15, 2026 to make a Traditional IRA contribution that counts toward the 2025 tax year.
High earners who can't contribute to a Roth IRA directly can contribute non-deductibly to a Traditional IRA, then convert it to Roth. The conversion has no income cap, but watch out for the pro-rata rule if you have other pre-tax IRA balances.
If you have any pre-tax balances in any Traditional IRA, SEP-IRA, or SIMPLE IRA at year-end, a Roth conversion is taxed proportionally between pre-tax and after-tax balances. You can't cherry-pick the after-tax dollars to convert.
Connect your Fidelity, Schwab, Vanguard, or any US broker. WealthWatch tracks Traditional + Roth IRA contributions against the combined annual IRS limit, applies the deduction phase-out per your filing status, and warns before you over-contribute.