TCU Investment Services

Which IRA is Best for You?


Broker Check by FINRA

Traditional IRA Income Deduction Limits

Joint Full Traditional IRA Deduction Individual Full Traditional IRA Deduction
2022: $109,000 2022: $68,000
2023: $116,000 2023: $73,000

 

IRA Savers Tax Credit for 2023

$2,000 Tax Credit Rate Joint AGI Limits Individual AGI Limits
50% $0 - $43,500 $0 - $21,750
20% $43,501 - $47,500 $21,751 - $23,750
10% $47,501 - $73,000 $23,751 - $36,500

 

IRA Contribution Limits

Under 50 Contribution Limits Over 50 Contribution Limits
2022: $6,000 2022: $7,000
2023: $6,500 2023: $7,500

 

Roth IRA Contribution Income Limits

Joint AGI Limits Individual AGI Limits
2022: $204,000 2022: $129,000
2023: $218,000 2023: $138,000

 

401(k) and 403(b) Contribution Limits

Under 50 Contribution Limits Over 50 Contribution Limits
2022: $20,500 2022: $27,000
2023: $22,500 2023: $29,000

 

Schedule a meeting with one of our Investment Services Representatives: Call (800) 756-6210.

Representatives are not tax advisors. For information regarding your specific tax situation, please consult a tax professional.