FAQs  >  Topic: IRA

What are my annual contribution limits for my IRA this year?

According to the IRS, IRA annual contributions limits for 2016 are as follows:

  • Your total contributions to all of your traditional and Roth IRAs cannot be more than $5,500.
  • If your compensation was less than the above dollar amount, your taxable compensation for the year is your IRA annual contribution limit.
  • If you are age 50 or older, your total IRA contributions cannot be more than $6,500.For more information on annual contribution limits, see IRA Contribution Limits on the IRS website.