Single
Married Filing Jointly
Married Filing Separately
Head of Household
Your Roth IRA Contribution Limit:
$0
Understanding Roth IRA Contribution Limits
A Roth IRA (Individual Retirement Arrangement) is a popular retirement savings account that allows your investments to grow tax-free. Contributions are made with after-tax dollars, meaning you don't get an upfront tax deduction. However, qualified withdrawals in retirement are completely tax-free. The IRS sets annual limits on how much you can contribute to a Roth IRA.
Key Factors Influencing Your Limit:
Annual IRS Limits: The IRS establishes a base contribution limit each year, which is adjusted for inflation.
Age: If you are age 50 or older by the end of the tax year, you are eligible to make "catch-up" contributions, increasing your total possible contribution.
Income (MAGI): Your Modified Adjusted Gross Income (MAGI) plays a crucial role. There are income phase-out ranges. If your MAGI falls within these ranges, your contribution limit is reduced. If your MAGI exceeds the upper limit of the phase-out range, you cannot contribute directly to a Roth IRA for that year.
Filing Status: Your tax filing status (Single, Married Filing Jointly, etc.) determines the specific MAGI phase-out ranges that apply to you.
How the Calculator Works:
This calculator uses the following logic:
It determines the base contribution limit for the selected tax year.
It adds the catch-up contribution limit if your age is 50 or older.
It checks your Modified Adjusted Gross Income (MAGI) against the IRS income phase-out ranges for your filing status and tax year.
If your MAGI is below the phase-out range, you can contribute the full base limit plus any applicable catch-up contribution.
If your MAGI falls within the phase-out range, the calculator prorates your limit. The reduction is proportional to how far your MAGI is into the phase-out range.
If your MAGI exceeds the upper limit of the phase-out range, the calculator indicates that direct contributions are not permitted.
Important Note: Contribution limits and MAGI phase-out ranges can change annually. This calculator uses the most recently published IRS figures. Always consult the official IRS guidelines or a qualified tax professional for the most accurate and personalized information. This calculator is for informational purposes only.
function calculateRothLimit() {
var taxYear = parseInt(document.getElementById("taxYear").value);
var age = parseInt(document.getElementById("age").value);
var filingStatus = document.getElementById("filingStatus").value;
var magi = parseFloat(document.getElementById("modifiedAgi").value);
var baseLimit = 0;
var catchUpLimit = 0;
var magiPhaseOutStart = 0;
var magiPhaseOutEnd = 0;
var limitExplanationText = "";
// IRS Contribution Limits and MAGI Phase-out Ranges (as of most recent available data)
// These are illustrative and should be updated with actual IRS figures for the specified year.
var limits = {
2023: { base: 6500, catchUp: 1000, phaseOuts: {
single: { start: 138000, end: 153000 },
married_filing_jointly: { start: 218000, end: 228000 },
married_filing_separately: { start: 0, end: 10000 }, // Note: MFJ ranges are complex, often S is used if not lived together
head_of_household: { start: 138000, end: 153000 }
}},
2024: { base: 7000, catchUp: 1000, phaseOuts: {
single: { start: 146000, end: 161000 },
married_filing_jointly: { start: 230000, end: 240000 },
married_filing_separately: { start: 0, end: 15000 }, // Note: MFJ ranges are complex, often S is used if not lived together
head_of_household: { start: 146000, end: 161000 }
}},
// Add more years as needed
2025: { base: 7000, catchUp: 1000, phaseOuts: { // Placeholder values, actual limits TBD by IRS
single: { start: 150000, end: 165000 },
married_filing_jointly: { start: 235000, end: 245000 },
married_filing_separately: { start: 0, end: 15000 },
head_of_household: { start: 150000, end: 165000 }
}}
};
var yearData = limits[taxYear];
if (!yearData) {
document.getElementById("contributionLimit").innerText = "N/A";
document.getElementById("limitExplanation").innerText = "Contribution limits for the selected year are not available.";
return;
}
baseLimit = yearData.base;
catchUpLimit = (age >= 50) ? yearData.catchUp : 0;
var filingStatusData = yearData.phaseOuts[filingStatus];
if (!filingStatusData) {
document.getElementById("contributionLimit").innerText = "N/A";
document.getElementById("limitExplanation").innerText = "Invalid filing status selected.";
return;
}
magiPhaseOutStart = filingStatusData.start;
magiPhaseOutEnd = filingStatusData.end;
var totalPotentialLimit = baseLimit + catchUpLimit;
var finalLimit = totalPotentialLimit;
// Input validation
if (isNaN(age) || age < 0) {
document.getElementById("contributionLimit").innerText = "Invalid";
document.getElementById("limitExplanation").innerText = "Please enter a valid age.";
return;
}
if (isNaN(magi) || magi < 0) {
document.getElementById("contributionLimit").innerText = "Invalid";
document.getElementById("limitExplanation").innerText = "Please enter a valid MAGI.";
return;
}
// Special case for MF/S where phase-out is very low
if (filingStatus === "married_filing_separately" && magiPhaseOutEnd 0) {
if (magi > magiPhaseOutEnd) {
finalLimit = 0;
limitExplanationText = "Your MAGI exceeds the limit for Married Filing Separately status, so you cannot contribute directly to a Roth IRA.";
} else {
// Proration within the very small range is complex and often simplified to a hard cut-off by tax professionals
// For simplicity, we'll cap it if they are above a certain low threshold within the range.
// A more precise proration could be implemented if needed.
finalLimit = totalPotentialLimit; // Assume full limit if below the small threshold
limitExplanationText = "For Married Filing Separately, there's a very low MAGI limit for direct Roth IRA contributions. Ensure your MAGI is within the allowed range.";
if(magi > 10000 && taxYear === 2023) { // Example threshold for 2023
finalLimit = Math.max(0, totalPotentialLimit – (magi – magiPhaseOutStart) * (totalPotentialLimit / (magiPhaseOutEnd – magiPhaseOutStart)));
limitExplanationText = "Your MAGI is within the phase-out range for Married Filing Separately. Your contribution limit is reduced.";
} else if (magi > 15000 && taxYear === 2024) { // Example threshold for 2024
finalLimit = Math.max(0, totalPotentialLimit – (magi – magiPhaseOutStart) * (totalPotentialLimit / (magiPhaseOutEnd – magiPhaseOutStart)));
limitExplanationText = "Your MAGI is within the phase-out range for Married Filing Separately. Your contribution limit is reduced.";
}
}
} else if (magi > magiPhaseOutEnd) {
finalLimit = 0;
limitExplanationText = "Your MAGI exceeds the upper limit for your filing status, so you cannot contribute directly to a Roth IRA.";
} else if (magi >= magiPhaseOutStart && magi <= magiPhaseOutEnd) {
var reductionRange = magiPhaseOutEnd – magiPhaseOutStart;
var incomeIntoRange = magi – magiPhaseOutStart;
var reductionFactor = incomeIntoRange / reductionRange;
finalLimit = totalPotentialLimit * (1 – reductionFactor);
finalLimit = Math.max(0, finalLimit); // Ensure limit doesn't go below zero
limitExplanationText = "Your MAGI is within the phase-out range. Your contribution limit is reduced proportionally.";
} else {
finalLimit = totalPotentialLimit;
limitExplanationText = "Your MAGI is below the phase-out range, allowing you to contribute the maximum allowed.";
}
// Display the result
document.getElementById("contributionLimit").innerText = "$" + finalLimit.toLocaleString(undefined, {minimumFractionDigits: 0, maximumFractionDigits: 0});
document.getElementById("limitExplanation").innerText = limitExplanationText;
}