The formulas
- Limit = $7,500 + $1,100 at 50 or older
- Share deductible = (range top - MAGI) / range width
- Partly deductible amounts round up to the next $10, minimum $200
How it works
Tax year: 2026.
The 2026 IRA limit is $7,500, with a $1,100 catch-up at age 50. If you are covered by a workplace plan, the deduction phases out between $81,000 and $91,000 of MAGI for single filers and $129,000 and $149,000 for married filing jointly. If you are not covered but your spouse is, it phases out between $242,000 and $252,000. For married filing separately the range is $0 to $10,000.
The deductible part is the contribution times the share of the range remaining. A contribution that remains partly deductible is rounded up to the next $10 and is at least $200, as the IRA worksheets do. The remainder is a nondeductible contribution reported on Form 8606.
Illustrative figures only. Check the result against your firm's methodology before relying on it.
Common questions
Does the limit apply if I have no workplace plan?
The $7,500 limit and the compensation cap still apply, but the deduction is not phased out by income unless your spouse is covered.
What is the catch-up amount?
$1,100 for those age 50 or older by year end.
What happens to the nondeductible part?
It becomes basis, tracked on Form 8606.
Sources
Runs in your browser. The figures you type are not sent to CORAA or stored. Check the result against your firm's methodology before relying on it.