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IRA Contribution Limits for 2017 and 2018

Each year, the IRS announces updated contribution limits and income thresholds for Individual Retirement Accounts (IRAs). The IRA contribution limit is not changing in 2018, but the income limits for Roth IRA contributions and the Traditional IRA tax deduction are increasing.

Here's a convenient chart to help you determine your 2018 IRA contribution and deduction limitations for individual (Traditional and Roth IRAs), small business/self-emplyed (SIMPLE and SEP IRAs), and other tax-advantaged retirement plans (ESA and HSA):

Individual Retirement Plans

Traditional IRA and Roth IRA Contribution Limits 2017 2018
Up to age 50 $5,500 $5,500
Catch-Up Contributions Age 50+  $1,000 $1,000
Total Contribution if Over the Age of 50  $6,500 $6,500

Roth IRA Contribution Limits MAGI Phase-Out Ranges 2017 2018
Single Individuals $118,000 - $133,000 $120,000 - $135,000
Married, Filing a Joint Tax Return  $186,000 - $196,000 $189,000 - $199,000
Married, Filing Separate Tax Returns  $0 - $10,000 $0 - $10,000

Traditional IRA Modified Adjusted Gross Income Limits 2017 2018
Single Active Participant  $62,000 - $72,000 $63,000 - $73,000
Married Active Participant, Filing Joint Tax Return $99,000 - $119,000 $101,000 - $121,000
Married Active Participant, Filing Separate Tax Returns $0 - $10,000 $0 - $10,000
Spouse of an Active Participant  $186,000 - $196,000 $189,000 - $199,000

Small Business Retirement Plans

SIMPLE IRA Contribution Limits 2017 2018
Employee Elective Deferrals $12,500 $12,500
Catch-Up Elective Deferral Contribution Age 50+  $3,000* $3,000*
Your employer can elect from two different contribution methods. Check with your employer which option they have chosen. Employer contributions are in addition to your elective deferrals.

SEP IRA Contribution Limits 2017 2018
SEP Employer Contribution Limits Up to 25% of compensation, with a maximum of $54,000* Up to 25% of compensation, with a maximum of $55,000*
SEP Current Year Compensation Limits $600 $600

Individual 401(k) Plan 2017 2018
Employer Contributions Up to $54,000 Up to $55,000
Employee Elective Deferrals Up to $18,000 Up to $18,000
Catch-Up Elective Deferral Contribution Age 50+ Up to $6,000 Up to $6,000
The employer can contribute up to 25% of your compensation up to the maximum limit.  Employer contributions and employee elective deferrals in aggregate may not exceed $53,000 for 2016 and $54,000 for 2017 combined. Compensation limits and deductibility apply so contact your employer for further information.

Other Tax-Advantaged Plans

Coverdell ESA Contribution Limits 2017 2018
Per year until the child is age 18, unless the child has special needs. $2,000 $2,000

Health Savings Accounts 2017 2018
High Deductibles/Out of Pocket Limits
Single Coverage - Minimum/Maximum $1,300/$6,550 $1,350/$6,650
Family Coverage-Minimum/Maximum $2,600/$13,100 $2,700/$13,300
Health Savings Account Contribution Limits
Single Coverage $3,400 $3,450
Family Coverage $6,750 $6,900
Plus $1,000 catch-up contribution if you are age 55+

The Entrust Group does not offer investment, tax, financial or legal advice to clients. Individuals who believe they need advice should consult with qualified professional(s) licensed in that area. This section of our website is devoted to providing clients and potential client with educational information. It is in no way intended as tax advice.

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