Clary Cordula

Traditional Ira Income Limits 2024 Married. The deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. If your modified gross adjusted income (magi) is $77,000 (up from $73,000) or less, you can take a full deduction.

Spousal iras have the same annual contribution limits as any other ira: But your income and your (as well as your spouse’s) affects whether you can deduct your traditional ira contributions from your taxable income for the year.