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taxmap/pubs/p590a-000.htm#en_us_publink1000230269
Publication 590-A

Contributions to Individual 
Retirement 
Arrangements 
(IRAs)

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What's New for 2017(p1)

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Qualified disaster tax relief.(p1)
New rules provide for tax-favored withdrawals and repayments from certain retirement plans for taxpayers who suffered economic losses as a result of Hurricane Harvey or Tropical Storm Harvey, Hurricane Irma, Hurricane Maria, or the California wildfires. See Pub. 976, Disaster Relief, for information on these special rules. Also, see the instructions for Form 8915B, Qualified 2017 Disaster Retirement Plan Distributions and Repayments, for more information on these new rules.
Disaster tax relief is also available for taxpayers who suffered economic losses as a result of disasters declared by the President under section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act during calendar year 2016. See Pub. 976 and the instructions for 2016 and 2017 Form 8915A, Qualified 2016 Disaster Retirement Plan Distributions and Repayments, for more information on these new provisions.
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IRAs and unrelated business income.(p1)
An IRA is subject to tax on unrelated business income if it carries on an unrelated trade or business. An unrelated trade or business means any trade or business regularly carried on by the IRA or by a partnership of which it is a member. For more information, see Unrelated business income under What Acts Result in Penalties or Additional Taxes, later.
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Modified AGI limit for traditional IRA contributions.(p2)
For 2017, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is:
  • More than $99,000 but less than $119,000 for a married couple filing a joint return or a qualifying widow(er),
  • More than $62,000 but less than $72,000 for a single individual or head of household, or
  • Less than $10,000 for a married individual filing a separate return.
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Modified AGI limit for certain married individuals.(p2)

If you are married and your spouse is covered by a retirement plan at work and you aren’t, and you live with your spouse or file a joint return, your deduction is phased out if your modified AGI is more than $186,000 (up from $184,000 for 2016) but less than $196,000 (up from $194,000 for 2016). If your modified AGI is $196,000 or more, you can’t take a deduction for contributions to a traditional IRA.
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Modified AGI limit for Roth IRA contributions.(p2)
For 2017, your Roth IRA contribution limit is reduced (phased out) in the following situations.
  • Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $186,000. You can’t make a Roth IRA contribution if your modified AGI is $196,000 or more.
  • Your filing status is single, head of household, or married filing separately and you didn’t live with your spouse at any time in 2017 and your modified AGI is at least $118,000. You can’t make a Roth IRA contribution if your modified AGI is $133,000 or more.
  • Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than zero. You can’t make a Roth IRA contribution if your modified AGI is $10,000 or more.

What’s New for 2018(p2)

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Extended rollover period for certain plan loan offsets in 2018 or later.(p2)
Beginning in 2018, you have until the due date (including extensions) for your tax return for the tax year in which the offset occurs to roll over a qualified plan loan offset amount. For more information, see Time Limit for Making a Rollover Contribution in chapter 1.
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No recharacterizations of conversions made in 2018 or later.(p2)
A conversion of a traditional IRA to a Roth IRA, and a rollover from any other eligible retirement plan to a Roth IRA, made after December 31, 2017, cannot be recharacterized as having been made to a traditional IRA. For more information, see Recharacterizations in chapter 1.
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Modified AGI limit for traditional IRA contributions increased.(p2)
For 2018, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA is reduced (phased out) if your modified AGI is:
  • More than $101,000 but less than $121,000 for a married couple filing a joint return or a qualifying widow(er),
  • More than $63,000 but less than $73,000 for a single individual or head of household, or
  • Less than $10,000 for a married individual filing a separate return.
taxmap/pubs/p590a-000.htm#en_us_publink100074288

Modified AGI limit for certain married individuals increased.(p2)

If you are married and your spouse is covered by a retirement plan at work and you aren’t, and you live with your spouse or file a joint return, your deduction is phased out if your modified AGI is more than $189,000 (up from $186,000 for 2017) but less than $199,000 (up from $196,000 for 2017). If your modified AGI is $199,000 or more, you can’t take a deduction for contributions to a traditional IRA.
taxmap/pubs/p590a-000.htm#en_us_publink100074289
Modified AGI limit for Roth IRA contributions increased.(p2)
For 2018, your Roth IRA contribution limit is reduced (phased out) in the following situations.
  • Your filing status is married filing jointly or qualifying widow(er) and your modified AGI is at least $189,000. You can’t make a Roth IRA contribution if your modified AGI is $199,000 or more.
  • Your filing status is single, head of household, or married filing separately and you didn’t live with your spouse at any time in 2018 and your modified AGI is at least $120,000. You can’t make a Roth IRA contribution if your modified AGI is $135,000 or more.
  • Your filing status is married filing separately, you lived with your spouse at any time during the year, and your modified AGI is more than zero. You can’t make a Roth IRA contribution if your modified AGI is $10,000 or more.

Reminders(p2)

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Future developments.(p2)
For the latest information about developments related to Pub. 590-A, such as legislation enacted after it was published, go to IRS.gov/Pub590A.
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Application of one-rollover-per-year limitation.(p2)
You can make only one rollover from an IRA to another (or the same) IRA in any 1-year period regardless of the number of IRAs you own. However, you can continue to make unlimited trustee-to-trustee transfers between IRAs because it isn’t considered a rollover. Furthermore, you can also make as many rollovers from a traditional IRA to a Roth IRA (also known as “conversions”). For more information, see Can You Move Retirement Plan Assets in chapter 1.
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Rollovers to SIMPLE retirement accounts.(p2)
You are able to roll over amounts from a qualified retirement plan (as described under Table 1-4) or an IRA into a SIMPLE retirement account as follows.
  1. During the first 2 years of participation in a SIMPLE retirement account, you may roll over amounts from one SIMPLE retirement account into another SIMPLE retirement account.
  2. After the first 2 years of participation in a SIMPLE retirement account, you may roll over amounts from a qualified retirement plan or an IRA into the SIMPLE retirement account.
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SIMPLE IRAs.(p3)
SIMPLE IRAs aren’t covered in this publication. They are covered in Pub. 560.
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Simplified employee pension (SEP).(p3)
SEP IRAs aren’t covered in this publication. They are covered in Pub. 560, Retirement Plans for Small Business.
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Deemed IRAs.(p3)
A qualified employer plan (retirement plan) can maintain a separate account or annuity under the plan (a deemed IRA) to receive voluntary employee contributions. If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules. An employee's account can be treated as a traditional IRA or a Roth IRA.
For this purpose, a "qualified employer plan" includes:
  • A qualified pension, profit-sharing, or stock bonus plan (section 401(a) plan);
  • A qualified employee annuity plan (section 403(a) plan);
  • A tax-sheltered annuity plan (section 403(b) plan); and
  • A deferred compensation plan (section 457 plan) maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state.
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Contributions to both traditional and Roth IRAs.(p3)
For information on your combined contribution limit if you contribute to both traditional and Roth IRAs, see Roth IRAs and traditional IRAs under How Much Can Be Contributed? in chapter 2.
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IRA interest.(p3)
Although interest earned from your IRA is generally not taxed in the year earned, it isn’t tax-exempt interest. Tax on your traditional IRA is generally deferred until you take a distribution. Don’t report this interest on your return as tax-exempt interest. For more information on tax-exempt interest, see the instructions for your tax return.
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Photographs of missing children.(p3)
The IRS is a proud partner with the National Center for Missing & Exploited Children® (NCMEC). Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1-800-THE-LOST (1-800-843-5678) if you recognize a child.

taxmap/pubs/p590a-000.htm#en_us_publink1000270051Introduction

This publication discusses contributions to individual retirement arrangements (IRAs). An IRA is a personal savings plan that gives you tax advantages for setting aside money for retirement. For information about distributions from an IRA, see Pub. 590-B.
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What are some tax advantages of an IRA?(p3)

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Two tax advantages of an IRA are that:
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What's in this publication?(p3)

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This publication discusses contributions to traditional and Roth IRAs. It explains the rules for:
It also explains the penalties and additional taxes that apply when the rules aren’t followed. To assist you in complying with the tax rules for IRAs, this publication contains worksheets and sample forms which can be found throughout the publication and in the appendices at the back of the publication.
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How to use this publication.(p3)

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The rules that you must follow depend on which type of IRA you have. Use Table I-1 to help you determine which parts of this publication to read. Also use Table I-1 if you were referred to this publication from instructions to a form.
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Comments and suggestions.(p3)

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We welcome your comments about this publication and your suggestions for future editions.
You can send us comments from IRS.gov/FormComments. Or you can write to:

Internal Revenue Service
Tax Forms and Publications
1111 Constitution Ave. NW, IR-6526
Washington, DC 20224


Although we cannot respond individually to each comment received, we do appreciate your feedback and will consider your comments as we revise our tax products.
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Ordering forms and publications.(p3)
Visit IRS.gov/FormsPubs to download forms and publications. Otherwise, you can go to IRS.gov/OrderForms to order current and prior-year forms and instructions. Your order should arrive within 10 business days.
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Tax questions.(p4)
If you have a tax question not answered by this publication, check IRS.gov and How To Get Tax Help at the end of this publication.

taxmap/pubs/p590a-000.htm#TXMP13c8eac4

Useful items

You may want to see:


Publications
 590-B Distributions from Individual Retirement Arrangements (IRAs)
 560 Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans)
 571 Tax-Sheltered Annuity Plans (403(b) Plans)
 575 Pension and Annuity Income
 939 General Rule for Pensions and Annuities
Forms (and Instructions)
 W-4P: Withholding Certificate for Pension or Annuity Payments
 1099-R: Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
 5304-SIMPLE: Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)—Not for Use With a Designated Financial Institution
 5305-S: SIMPLE Individual Retirement Trust Account
 5305-SA: SIMPLE Individual Retirement Custodial Account
 5305-SIMPLE: Savings Incentive Match Plan for Employees of Small Employers (SIMPLE)—for Use With a Designated Financial Institution
 5329: Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts
 5498: IRA Contribution Information
 8606: Nondeductible IRAs
 8815: Exclusion of Interest From Series EE and I U.S. Savings Bonds Issued After 1989
 8839: Qualified Adoption Expenses
 8880: Credit for Qualified Retirement Savings Contributions
 8915A: Qualified 2016 Disaster Retirement Plan Distributions and Repayments
 8915B: Qualified 2017 Disaster Retirement Plan Distributions and Repayments
See chapter 4 for information about getting these publications and forms.
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Table I-1. Using This Publication

IF you need information on ... THEN see ...
traditional IRAschapter 1.
Roth IRAschapter 2, and parts of
chapter 1.
the credit for qualified retirement savings contributions (the saver's credit)chapter 3.
how to keep a record of your contributions to, and distributions from, your traditional IRA(s) Appendix A.
SEP IRAs, SIMPLE IRAs, and 401(k) plans Pub. 560.
Coverdell education savings accounts (formerly called education IRAs) Pub. 970.
IF for 2017, you:
  • received social security benefits,
  • had taxable compensation,
  • contributed to a traditional IRA, and
  • you or your spouse was covered by an employer retirement plan,
and you want to...
THEN see ...
first figure your modified adjusted gross income (AGI)Appendix B,  Worksheet 1.
then figure how much of your traditional IRA contribution you can deductAppendix B,  Worksheet 2.
and finally figure how much of your social security is taxable Appendix B,  Worksheet 3.
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Table I-2. How Are a Traditional IRA and a Roth IRA Different?

This table shows the differences between traditional and Roth IRAs. Answers in the middle column apply to traditional IRAs. Answers in the right column apply to Roth IRAs.

QuestionAnswer
 Traditional IRA? Roth IRA?
Is there an age limit on when I can open and contribute to aYes. You must not have reached age
701/2 by the end of the year. See Who Can Open a Traditional IRA? in chapter 1.
No. You can be any age. See Can You Contribute to a Roth IRA? in chapter 2.
If I earned more than $5,500 in 2017 ($6,500 if I was 50 or older by the end of 2017), is there a limit on how much I can contribute to a Yes. For 2017, you can contribute to a traditional IRA up to:
  • $5,500, or
  • $6,500 if you were age 50 or older by the end of 2017.

There is no upper limit on how much you can earn and still contribute. See How Much Can Be Contributed? in chapter 1.
Yes. For 2017, you may be able to contribute to a Roth IRA up to:
  • $5,500, or
  • $6,500 if you were age 50 or older by the end of 2017,

but the amount you can contribute may be less than that depending on your income, filing status, and if you contribute to another IRA. See How Much Can Be Contributed? and Table 2-1 in chapter 2.
Can I deduct contributions to aYes. You may be able to deduct your contributions to a traditional IRA depending on your income, filing status, whether you are covered by a retirement plan at work, and whether you receive social security benefits. See How Much Can You Deduct? in chapter 1. No. You can never deduct contributions to a Roth IRA. See What Is a Roth IRA? in chapter 2.
Do I have to file a form just because I contribute to aNot unless you make nondeductible contributions to your traditional IRA. In that case, you must file Form 8606. See Nondeductible Contributions in chapter 1. No. You don’t have to file a form if you contribute to a Roth IRA. See Contributions not reported in chapter 2.