Traditional IRA calculator
Enter your income and plan at work, see what you can deduct for 2026.
How much can I put in a traditional IRA in 2026?
$7,500, or $8,600 if you are 50 or older ($1,100 catch-up) — IRS IR-2025-111. That limit is shared with any Roth IRA, and you cannot put in more than your taxable compensation for the year. There is no age limit on contributions since 2020. Contributions for 2026 can be made until your 2026 return is due, not counting extensions.
Can I deduct my contribution?
If neither you nor your spouse is covered by a retirement plan at work, the whole contribution is deductible at any income. If you are covered, the deduction phases out at a modified AGI of $81,000–$91,000 for single filers and heads of household, $129,000–$149,000 for married couples filing jointly and $0–$10,000 if married filing separately. If you are not covered but your spouse is: $242,000–$252,000 on a joint return, $0–$10,000 filing separately. If you file separately and did not live with your spouse at any time during the year, you are treated as single (IRS Pub. 590-A, Tables 1-2 and 1-3).
How is a reduced deduction figured?
Pub. 590-A Worksheet 1-2: take the top of your phase-out range minus your modified AGI and multiply it by your limit ÷ the width of the range — $10,000, or $20,000 on a joint return when you are the one covered. For 2026 that is 75% (86% at 50+), or 37.5% (43%) on the $20,000 range. Round up to the next $10, and if the result is under $200, you can still deduct $200. Example: single, covered at work, MAGI $86,000, under 50 — ($91,000 − $86,000) × 75% = $3,750.
Am I covered by a workplace plan?
Your Form W-2 has a “Retirement plan” box that should be checked if you were covered for the year; if you are not sure, ask your employer (IRS Pub. 590-A). You count as covered by a plan with individual accounts, such as a 401(k), if money went into your account for the plan year, and by a pension plan if you were eligible, even if you declined to take part. Social Security does not count.
How much tax does it save?
Roughly the deductible amount times your top federal tax rate — $7,500 at 22% is about $1,650 — and state tax may add to it. The money is taxed as income when you withdraw it. A contribution you cannot deduct can stay in the IRA as a nondeductible contribution, reported on Form 8606, so it is not taxed again when you take it out.
Estimates for planning only — not financial or tax advice. Official statements and your plan documents decide. How we check our calculators.