Calculate your IRA contribution limits

When it comes to IRAs, your age, income and filing status all have a say in how much you can tuck away.

What is your filing status? 1
Are you eligible for an employer-sponsored retirement plan? 2
Is your spouse eligible for an employer-sponsored retirement plan? 2

Contribution limit available to you

  Roth Traditional (deductible) Traditional (non-deductible)
What is the difference between these IRAs?

Contribution limit available to your spouse

  Roth Traditional deductible Traditional non-deductible
What is the difference between these IRA's?

Ready to take the next step?

Move closer to the retirement you deserve. Take advantage of competitive, tax-friendly growth potential with a TIAA IRA.

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1If you're married and file jointly when you submit your income tax statements, choose "Married." If not, choose "Single."

2Do you have a 401(k) or 403(b) retirement plan with your employer? If you're not sure, contact the Human Resources Department at your place of employment.

3This represents your total income, as reported on your federal income tax return, after allowing for certain adjustments, such as subtracting certain contributions to individual retirement accounts, but before subtracting standard or itemized deductions and personal exemptions.

Roth or traditional: Which is right for you?

It all comes down to how and when you get a tax break. Here's a quick comparison.

Roth IRA
  • No immediate tax benefit for contributing
  • Contributions can be withdrawn at any time tax- and penalty-free
  • Savers with higher incomes may be ineligible to contribute
  • Qualified distributions are tax-free
  • No required minimum distributions (RMDs)
Traditional IRA
  • Pre-tax contributions are often tax-deductible
  • Contributions withdrawn before age 59½ are subject to taxes and penalties
  • Can contribute no matter how much you earn
  • Distributions are taxed as ordinary income
  • Withdrawals are required by age 734

The ABCs of IRA contributions

Not an IRA expert? Not a problem. We have answers to common questions.

Contributing more than your annual limit allows will trigger a 6% penalty tax on the excess amount. The penalty is due when you file your taxes. If you don't withdraw the additional funds and any earnings, you'll be charged the same penalty every year until you make the adjustment.

You have until the end of Tax Day to make your IRA contributions for the previous calendar year. Keep in mind: the earlier you contribute, the more time your money has to grow tax-free.

You can keep contributing as long as you or your spouse is earning income.

Contributing to an IRA can mean tax deductions, tax-friendly growth and tax credits, all of which provide valuable financial benefits. Consult your financial and tax advisors for guidance.

Yes! If you and your spouse file your taxes jointly, you can set up a separate account, known as a spousal IRA, and make contributions to your IRA and theirs — as long as you have enough earned income to cover both contributions. As a couple, you can contribute a combined total of $14,000 (if you're both under 50) or $16,000 (if you're both 50 or older) to a traditional IRA for 2024. If you have Roth IRAs, your income could affect how much you can contribute.

You may take a full deduction if you and your spouse are not covered by a workplace retirement plan — regardless of your income — or your modified adjusted gross income (MAGI) is below a certain level. To see how much of your contribution you can deduct, check out the IRS's 2023 and 2024 deduction chartsOpens in a new window

It is. Your filing status and income determine whether you (and your spouse if you're married) can contribute — and how much. Use our IRA Selector Tool to see if you're eligible.

Boost your retirement savings with a TIAA IRA

Take advantage of tax-friendly growth and an array of investment options.

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4Your RMD Applicable Age was 70 ½ if you were born before 7/1/49; 72 if you were born on or after 7/1/49 or in 1950; 73 if you were born between 1951 and 1958; 75 if you were born in 1960 or later. If you were born in 1959, federal guidance is needed to determine if your RMD Applicable Age is 73 or 75.

This tool is intended to provide you with information to help you make informed decisions.

Results are based on your input and IRS regulations regarding age, adjusted gross income, eligibility for an employer-sponsored plan and tax filing status disclosed in IRS Publication 590-A, available at 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. TIAA-CREF Individual & Institutional Services, LLC and its affiliates do not offer tax or legal advice services. Consult your financial and tax advisors for specific advice based on your personal situation.