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IRA calculator

Free, no signup. A traditional IRA calculator for 2026: how much you can put in, how much of it you can deduct with or without a workplace plan, the tax it saves and what it grows to, plus the tax and penalty on an IRA withdrawal or distribution.

Short answer: For 2026 the IRA limit is $7,500, or $8,600 at 50 or older. With a workplace plan, the deduction phases out at $81,000 to $91,000 of MAGI single and $129,000 to $149,000 joint.

Updated · By Berkay Kolay

The calculator

Your 2026 limit$7,500Across all your IRAs
Deductible$5,250Up to $5,250 at your income
Tax saved this year$1,155At a 22% rate
IRA at 65$500,950Before tax; withdrawals required from 75

You can put up to $7,500 in IRAs for 2026. $5,250 of your $7,500 is deductible; the other $2,250 is a nondeductible contribution you report on Form 8606. Contributing $7,500 a year, the account grows to about $500,950 by 65.

IRA withdrawal and distribution tax calculator

Taking money out works the other way, and this section is an IRA withdrawal calculator and IRA distribution calculator in one. A traditional IRA distribution is taxed as ordinary income in the year you take it, and before 59½ the IRS adds a 10% penalty unless an exception applies. Enter the withdrawal and your other income to see the tax it adds and what you keep.

Federal income tax$3,750On top of your other income
State income tax$0Pick a state to include it
10% early withdrawal penalty$0None at 59½ or older
You keep$16,25018.8% goes to tax and the penalty

Taking $20,000 from a traditional IRA at 62 with $60,000 of other income costs about $3,750: $3,750 of federal tax. You keep $16,250. IRA custodians withhold 10% ($2,000) for federal tax unless you choose a different rate; your tax return settles the difference.

Exceptions to the 10% penalty on IRA withdrawals include up to $10,000 for a first home, qualified higher education costs, medical costs above 7.5% of AGI, health insurance premiums while unemployed, disability, up to $5,000 after a birth or adoption, one emergency withdrawal of up to $1,000 a year, and 72(t) substantially equal payments. The calculator does not apply them, and the Rule of 55 does not cover IRAs. If you made nondeductible contributions, part of each withdrawal is a tax-free return of that basis, worked out on Form 8606 as the backdoor Roth guide explains.

2026 IRA deduction limits

If neither you nor your spouse has a retirement plan at work, your traditional IRA contribution is fully deductible at any income. If either of you does, the deduction phases out over these modified AGI ranges:

2026 traditional IRA deduction phase-out ranges
Your situationDeduction phases out
Single or head of household, covered at work$81,000 to $91,000
Married filing jointly, you are covered$129,000 to $149,000
Married filing jointly, only your spouse is covered$242,000 to $252,000
Married filing separately, either of you coveredUp to $10,000

The contribution limit is $7,500, or $8,600 at 50 and over, shared across traditional and Roth IRAs and capped at your earned income. Contributions for 2026 can be made until April 15, 2027. All limits, including 2027 when the IRS publishes it, are in contribution limits for 2026 and 2027.

Traditional or Roth IRA

A deductible traditional contribution lowers your tax now and is taxed when you withdraw. A Roth contribution gets no deduction and comes out tax-free later, but has income limits of its own. The Roth IRA calculator compares the two for your tax rates.

Nondeductible contributions

You can still contribute when the deduction is gone. The money grows tax-deferred, your contributions become basis that is not taxed again, and you report them on Form 8606 every year you make one. Converting that money to Roth is the backdoor Roth; the backdoor Roth guide works out the tax under the pro-rata rule.

Spousal IRAs

A spouse with little or no earned income can contribute to their own IRA based on the working spouse’s income, as long as you file jointly. The two contributions together cannot exceed the couple’s combined earned income.

Required withdrawals

Traditional IRAs require minimum distributions from 73 if you were born from 1951 to 1959, and from 75 if you were born in 1960 or later. The RMD calculator shows the amount each year, including a qualified charitable distribution and the tax it adds.

Methodology and sources

The deductible amount follows the IRS worksheet in Publication 590-A: the limit shrinks in proportion through the range, rounded up to the next $10, with $200 allowed if anything is left. Tax saved is the deduction times the rate you enter. Growth uses one constant return with contributions at year end, before tax.

Figures checked on against IRS, 401(k) limit increases to $24,500 for 2026, IRA limit increases to $7,500 (IR-2025-111, Notice 2025-67) and IRS Publication 590-A, Contributions to Individual Retirement Arrangements.

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Frequently asked questions

How much can I contribute to an IRA in 2026?
$7,500, or $8,600 if you are 50 or older by the end of the year. The limit is shared across your traditional and Roth IRAs and cannot exceed your earned income.
Can I deduct my traditional IRA contribution?
Fully, if neither you nor your spouse has a retirement plan at work. If you are covered, the deduction phases out between $81,000 and $91,000 of modified AGI for single filers and between $129,000 and $149,000 for joint filers in 2026. If only your spouse is covered, it phases out between $242,000 and $252,000.
What happens if my IRA contribution is not deductible?
You can still make it. It grows tax-deferred, the contribution becomes basis that is not taxed again, and you report it on Form 8606. Many people then convert it to Roth, the backdoor Roth.
What is the difference between a traditional and a Roth IRA?
A traditional IRA can lower your tax now and is taxed when you withdraw; a Roth IRA gets no deduction but comes out tax-free in retirement. Roth IRAs have income limits and no required withdrawals during your lifetime.
When do I have to start taking money from a traditional IRA?
Required minimum distributions start at 73 if you were born from 1951 to 1959, and at 75 if you were born in 1960 or later.
Can I contribute to an IRA for a spouse who does not work?
Yes, with a spousal IRA, as long as you file jointly. The two contributions together cannot exceed the couple’s combined earned income.
How much tax will I pay on an IRA withdrawal?
A traditional IRA withdrawal is ordinary income, taxed at your federal rate plus any state tax, and before 59½ the IRS adds a 10% penalty unless an exception applies. Qualified Roth IRA withdrawals are tax-free. The IRA withdrawal tax calculator on this page works out the amount on top of your other income.
What is the penalty for withdrawing from an IRA early?
10% of the taxable amount if you are under 59½, on top of income tax. Exceptions include up to $10,000 for a first home, qualified education costs, medical costs above 7.5% of AGI, disability and 72(t) payments. The Rule of 55 does not apply to IRAs.
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