Many IRA and retirement plan limits are indexed for inflation each year. Several of these key numbers have increased once again for 2026.

How much can you save in an IRA?

The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2026 will be $7,500 (or 100% of your earned income, if less), up from $7,000 in 2025. The maximum catch-up contribution for those age 50 or older is $1,100, increased from $1,000 in 2025. You can contribute to both a traditional IRA and a Roth IRA in 2026, but your total contributions cannot exceed these annual limits.

Can you deduct your traditional IRA contributions?

If you (or both you and your spouse, if you're married) are not covered by a work-based retirement plan, your contributions to a traditional IRA are generally fully tax-deductible.

If you plan to make energy-efficient improvements or purchase clean energy vehicles, please note the cutoffs below.