Skip to main content

Knowledge Base Article

Eligibility to Contribute to an IRA

You can open and make contributions to a Traditional IRA if:

  • You (or your spouse, if you file a joint return) received taxable income during the year and
  • For 2019 contributions, you were not age 70½ on or before December 31, 2019.

*Effective January 1, 2020, due to the SECURE Act, there is no longer an age requirement for contributions to a Traditional IRA. This applies to contributions made for tax year 2020 and forward. Questions regarding changes made due to the SECURE Act can be directed to the IRA Department (404-677-4600, M-F 8:00-5:00 EST).

You can open and make contributions to a Roth IRA if:

  • You (or your spouse, if you file a joint return) received taxable income during the year and
  • Your modified Adjusted Gross Income (MAGI) limits are within the following ranges:      
    • 2020: Married filing jointly: You must earn less than $196,000 to fully contribute or in between $196,000 - $206,000 to partially contribute.
    • 2019: Married filing jointly: You must earn less than $193,000 to fully contribute or in between $193,000 - $203,000 to partially contribute.
    • 2019 & 2020: Married filing separately: You must earn less than $10,000 to fully contribute.
    • 2020: Single individual: You must earn less than $124,000 to fully contribute or in between $124,000 - $139,000 to partially contribute.
    • 2019: Single individual: You must earn less than $122,000 to fully contribute or in between $122,000 - $137,000 to partially contribute.

For more specific information regarding your eligibility to contribute to an IRA, please consult a tax professional or go to www.IRS.gov for more information. You may also consult one of our financial planners at Delta Community Retirement and Investment Services (404-677-4890 or 800-544-3328).