Ultimate 2013 IRA Cheat Sheet
In 2013, the IRS changed many of the IRA limits allowed for every type of account. Keep track of all the tax, income and contribution limits with this handy chart below. Most deadlines fall on tax day, or April 15, 2013. For complete IRA information see:
- Traditional IRA Rules – Covers all 2013 Traditional IRA Regulations
- 2013 Roth IRA Limits – Roth IRA rules have changed this year.
- SEP Contribution Limits – Up to date information on 2013 SEP IRA Contributions
- Simple IRA Rules – Complete Guide to Simple IRAs
The good news is that limits are rising across the board for all types of individual retirement accounts. This includes both Roth and Traditional IRAs, as well as Simple and SEP plans. Don’t forget your contribution deadlines.

2013 Plain Text Version
Jump to: Roth IRA – Traditional IRA – Simple IRA – SEP IRA
I. Roth IRAs
1. No Taxes on Capital gains or dividends
2. Tax-free growth – No tax on retirement withdrawals
3. Contributions are not tax deductable
Roth IRA Income Limits
Use this 2013 IRA contribution limits chart to find your maximum contribution based on income (AGI).| Your Tax Filing Status | Income (Modified AGI) |
Contribution Limit |
|---|---|---|
|
Single, head of household, or married filing separately and you and your partner did not live together. |
Up to $112,000 |
Up to the maximum. |
|
Between $112,000 and $127,000 |
Phased-out Contributions |
|
|
Above $127,000 |
Ineligible |
|
|
Married filing jointly |
Less than $178,000 |
Up to the maximum. |
|
Between $178,000 and $188,000 |
Phased-out Contributions |
|
|
More than $188,000 |
Ineligible |
|
|
Married filing separately and you lived with your partner at least some of the year |
$0 |
Up to the maximum. |
|
Between $0 and $10,000 |
Phased-out Contributions |
|
|
Above $10,000 |
Ineligible |
II. Traditional IRAs
1. No Taxes on Capital gains or dividends
2. Tax-deferred growth – Gains taxable upon withdrawal
3. Contributions are tax deductible
Traditional IRA Deduction Limits
Use the following 2012 IRA deduction chart to determine your maximum deduction based on income.| You are Covered by Another Plan at Work | You Are Not Covered by Another Plan at Work | |||
|---|---|---|---|---|
| Tax Filing Status | Your Income Modified Gross Adjusted | 2012 Traditional IRA Limit | Your Income Modified Gross Adjusted | 2012 Traditional IRA Limit |
|
Single or head of household |
Beneath $59,000 |
Full Deduction |
Anything |
Full Deduction! |
|
Between $59,000 and $69,000 |
Phased-out deduction |
|||
|
Above $69,000 |
Ineligible |
|||
|
Married filing jointly |
Less than $95,000 |
Full Deduction up to the maximum. |
Less than $178,000 |
Full Deduction up to the maximum. |
|
Between $95,000 and $115,000 |
Phased-out Deduction |
Between $178,000 and $188,000 |
Phased-out Deduction |
|
|
More than $115,000 |
Ineligible |
More than $188,000 |
Ineligible |
|
|
Married filing separately |
Between $0 and $10,000 |
Phased-out Deduction |
Between $0 and $10,000 |
Phased-out Deduction |
|
Above $10,000 |
Ineligible |
Above $10,000 |
Ineligible |
|
III. Simple IRAs
1. Employers required to contribute
2. Similar to 401k
3. Easy Setup
For Employers
Matching Conributions – Up to 3% Non-elective Contributions – 2% of employee’s salary For more information visit the Simple IRA Rules.IV. SEP IRAs
1. Contributions are Deductible
2. Highest Contribution Limits
3. Low Administrative Costs
- 25% of an Employee’s Salary or
- $51,000 Whichever is smaller