1 This contribution amount assumes no other IRA contributions. Your deduction may be limited by your individual tax circumstances. Please consult your tax advisor if you have questions.
2 Age 70½ applies if you were born on or before June 30, 1949. If you were born on or after July 1, 1949, your required minimum distribution beginning age is 72.
Certain products and services may not be available to all entities or persons. Results are based on your inputs and IRS regulations regarding age, adjusted gross income, spousal age, eligibility for an employer sponsored plan, and filing status disclosed in IRS publication 590-A. This publication is available at https://www.irs.gov/publications/p590a/index.htmlOpens in a new window. This tool does not consider your complete financial situation and needs, or other inputs such as debt, other retirement assets or contributions, liquidity needs, and other receivables or obligations. Contact your tax advisor regarding the tax impact of any decision regarding potential savings strategies.