2025 FSFM | Individual Retirement Accounts (IRAs)

Types of Individual Retirement Accounts (IRAs)

Tax-deductible contributions, taxes paid on withdrawal.

Contributions made with after-tax dollars, tax-free withdrawals in retirement.

Type of IRA	2024	2025
Roth IRA Contribution Limit	$7,000	$7,000
Roth IRA Contribution Limit Age 50 or Over	$8,000	$8,000
Traditional IRA Contribution Limit	$7,000	$7,000
Traditional IRA Contribution Limit Age 50 or Over	$8,000	$8,000
Roth IRA Income Limits for Single Filers	$146,000 - $161,000	$150,000 - $165,000
Roth IRA Income Limits for Married Filers	$230,000 - $240,000	$236,000 - $246,000
Traditional IRA Income Limits for Single Filers with Employer Retirement Plan	$77,000 - $87,000	$79,000 - $89,000
Traditional IRA Income Limits for Married Filers and Both Spouses with Employer Retirement Plan	$123,000 - $143,000	$126,000 - $146,000
Traditional IRA Income Limits for Married Filers and One Spouse with Employer Retirement Plan	$230,000 - $240,000	$236,000 - $246,000