1040-US: Contribution limits for traditional and Roth IRAs

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Question

What is the overall contribution limit for traditional and Roth IRAs?

Answer

There is an overall contribution limit of $6,000 ($7,000 if 50 years of age or older) for each taxpayer and spouse that applies to contributions to traditional and Roth IRAs, subject to the taxable compensation limit. Traditional and Roth IRA contributions do not include rollovers or conversions from traditional IRAs to Roth IRAs.

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