How much can I contribute to an IRA and what is the deadline?

The annual limits for 2022 IRA contributions are $6,000 for individuals under 50 years old and $7,000 for those who are 50 and over. The limit is assessed across all of your accounts, so if you have reached the limit with one provider you are not allowed to contribute to another account somewhere else. You can max out your IRA contributions by creating a new deposit in your Traditional IRA or Roth IRA.

There are additional contribution limits to a Roth IRA, and deduction limits to a Traditional IRA, based on your income and other factors. Review the contribution limits, or speak with your tax advisor.

Learn more about important tax deadlines.