| YEAR | CONTRIBUTION IF UNDER THE AGE OF 50 | CONTRIBUTION IF OVER THE AGE OF 50 | DEADLINE TO OPEN IRA | DEADLINE TO CONTRIBUTE TO IRA |
|---|---|---|---|---|
| 2020 | $6,000 | $7,000 | 4/15/2021 | 4/15/2021 |
| 2021 | $6,000 | $7,000 | 4/15/2022 | 4/15/2022 |
2020 Roth IRA Contribution Limitations
| If Your Filing Status is… | And Your Modified AGI is… | Then You Can Contribute… |
|---|---|---|
| Married filing jointly or qualifying widow(er) | $196,000 or less | up to the limit |
| more than $196,000 but less than $206,000 | a reduced amount | |
| $206,000 or more | zero | |
| Married filing separately and you lived with your spouse at any time during the year | less than $10,000 | a reduced amount |
| $10,000 or more | zero | |
| Single, head of household, or married filing separately and you did not live with your spouse at any time during the year | $124,000 or less | up to the limit |
| more than $124,000 but less than $139,000 | a reduced amount | |
| $139,000 or more | zero |