Traditional IRA Tax Deductibility Limits 2016

Modified Adjusted Gross Income			Maximum Deductibility Limits
	MARRIED FILING JOINTLY or qualifying widow(er)
Head of household or Single Filer and you participate in an employer retirement plan	You participate in an employer retirement plan	Only your spouse participates in an employer retirement plan	Under age 50*	Age 50* and over
$61,000 & under	$98,000 & under	$184,000 & under	$5,500	$6,500
$62,000	$100,000	$185,000	$4,950	$5,850
$63,000	$102,000	$186,000	$4,400	$5,200
$64,000	$104,000	$187,000	$3,850	$4,550
$65,000	$106,000	$188,000	$3,300	$3,900
$66,000	$108,000	$189,000	$2,750	$3,250
$67,000	$110,000	$190,000	$2,200	$2,600
$68,000	$112,000	$191,000	$1,650	$1,950
$69,000	$114,000	$192,000	$1,100	$1,300
$70,000	$116,000	$193,000	$550	$650
$71,000 & over	$118,000 & over	$194,000 & over	$0	$0

Additional Considerations:

If neither you nor your spouse participates in an employer-sponsored retirement plan, all or part of your traditional IRA contribution may be deductible.

Spousal IRA — A nonworking spouse can make a traditional IRA contribution as long as the couple files a joint federal tax return, the working spouse has enough earned income to cover the contribution and their modified adjusted gross income is within the range listed above.

Generally, married couples filing separately are not entitled to a deduction for contributions to traditional IRAs.

However, if you are married and file separately but do not live with your spouse at any time during the year, your maximum deduction is determined as if you were a single filer.

If neither you nor your spouse is covered by an employer retirement plan, the maximum deduction is either $5,500 or $6,500, depending on whether you are age 50 or over.

* You are treated as being age 50 or older if you will turn age 50 or older at any point during the calendar year.

Contributions to traditional IRAs and Roth IRAs are aggregated for purposes of applying the maximum annual contribution limit of $5,500 (or $6,500 if you will turn age 50 or older during the calendar year).

Please see IRS Publication 590 at www.irs.gov for further details regarding Roth IRA contribution limits and guidelines.