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The income limits for traditional IRA and Roth IRA contributions will be revised upward to account for changes in the cost of living. ... Tax Filing Status. 2024 MAGI. 2025 MAGI. Roth IRA ...
2025 Tax-Filing Status. Income Limit for a Full Roth IRA Contribution. Roth Contribution Phases Out Entirely for Income Above. Single and head of household. $150,000. $165,000. Married filing ...
Filing status. 2024 standard deduction amount. Single. $14,600 (up $750 from 2023) Head of household. $21,900 (up $1,100 from 2023) Married filing jointly
You become ineligible if your modified adjusted gross income (MAGI) exceeds $161,000 for single tax filers (or $165,000 in 2025) and $240,000 for married filing jointly ($246,000 in 2025). Taxes.
Even though the Roth IRA contribution limits are staying put for 2025, the income limits are shifting up. If your tax-filing status is head of household, you'll now be able to contribute the full ...
For married couples filing jointly for tax year 2024, the deduction increased to $29,200, up $1,500 from tax year 2023, the IRS said. The IRS noted that for the head of household, the standard ...
The catch-up contribution limit for those over 50 remains at $7,500 for 2025, giving you a total limit of $31,000 next year. The limits apply to pre-tax, traditional retirement plans and after-tax ...
The IRS recently released the inflation-adjusted limits -- here's the new info for retirement savers. It's Official -- Here Are the 2025 IRA and 401(k) Limits Skip to main content