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Contribution Limits for Traditional and Roth IRA

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Your traditional IRA and Roth IRA annual contribution limits set by the IRS are:

Below age 50

  • $4000 for 2007
  • $5000 for 2008

Age 50 and above

  • $5000 for 2007
  • $6000 for 2008

Contributions to a traditional IRA are tax-deferred until withdrawal.

Contributions to a Roth IRA are not tax-deferred but the earnings are tax free at withdrawal.
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