Barron's 4.5 Stars 2014 Open an Account Button Contact Us Login Log In Log into
  • Funding & Transfers

  • Funding Reference ~ FAQs

    Fund Transfers

    Position Transfers

    Transaction History

    Settlement Instructions

    FAQs


     General Funding     Transfer Account (ACATS)     Deposits 

    How to Fund your Account - FAQs

     

     

     

    General Funding

     

     
     

    How do I find out about the status of my account application?

     
         
     
         
     

    Once all account application materials/documents have been received at PT, the application will be reviewed and a decision will be made to either accept or decline the account. An email will be sent to the applicant informing them of the decision. Under normal circumstances your account should be approved and open for trading on the same day or the following day after your application and documents have been received.

    While waiting for the account to be approved, you may log into Finish a New Account Application to view your latest status.

    Please be sure to check your email during this time as we may send an email requesting additional information and we will not be able to proceed until we have received your response or any additional information/documents requested.

     
         
     
         
     

    Can I fund an account in a different currency than the base currency?

     
       
         
     

    Yes. Here are the currencies that you can use to fund your account:

    AUD
    CAD
    CHF
    CNH
    CZK
    DKK
    EUR
    GBP
    HKD
    HUF
    INR
    JPY
    MXN
    NOK
    NZD
    PLN
    SEK
    SGD
    USD

    Not all of the currencies listed above can be used as your base currency. For a list of eligible base currencies, see the Configuring Your Account page for Base Currency.

       
     
         
       

    Will you convert funds from one currency to another?

     
       
         
     

    No, PT does not convert funds to different currencies. In addition, PT does not offer Forex (FX) trading.

    Please Note:

    Deposits that are improperly routed to a bank account that has not been designated to accommodate deposits in your selected currency may be rejected or automatically converted to the local currency based on the policies of the bank. As Place Trade is unable to assume the risk of such errors, please be sure to provide your bank with the correct routing instructions displayed when your Deposit Notification is created.

       
     
         
     

     

    Can I transfer money between different PT accounts? 

     
       
         
      Yes. Please see PT's Internal Funds Transfers page for instructions and details.  
         
     
         
     


    Is my account insured?

     
       
         
     

    The securities portion of your account is insured for up to $30 million regardless of your country of residency. Excess funds in your commodities account are swept into your securities account at the end of each day. Click here to learn more about how your account is protected including specifics on your insurance protection.

     
         
     
         
     


    Can my Financial Advisor or my online trading account personal advisor withdraw my funds?

     
       
         

    No, only you or someone that you specifically authorize through Account Management can request a withdrawal on your behalf. Please note that you cannot authorize your financial advisor to withdraw funds on your behalf. We recommend that you, and only you or other account holders, withdraw funds from your account. It is very simple and fast!Place Trade cannot be responsible for the actions of individuals that you authorize to act on your behalf.

    It is important to note that Place Trade does not allow third party deposits or withdrawals and does not allow withdrawals to be sent to accounts without the exact same title that matches your Place Trade account. (E.g., Jane J. Doe to Jane J. Doe.) In order to deposit or withdraw funds, you must first set up banking instructions and either a deposit or withdrawal notification (such notifications serve in a manner similar to an electronic depositor withdrawal slip which you will create inAccount Management)If you need assistance settig up a notification please call us at 919-719-7200 and we will be happy to assist you with the process.

       
     
         
     

    Where can I view transactions for deposits and withdrawals in the past 90 days?

     
       
         
     

    The fastest way to find the latest status of any deposit, withdrawal, internal transfer or position transfer request is by viewing the Transaction History page in Account Management. To locate this information please log into Account Management and click on the Funding tab/section. The dropdown menu under Funding will allow you to view the Transaction History for Fund Transfers, Cash Deposits or Withdrawals as well as position transfers. (In this case the maximum time frame that may be reviewed is 90 days.) 

    Looking for a transaction that occurred more than 90 days ago?

    Your account statements, which are also available in Account Management, offer detailed information on deposits made over longer time periods. Account statements are available through the previous trading day therefore, you will need to refer back to the Transaction History page in order to see any deposits made today.

    Customizable account statements are available for your convenience and may be located within Account Management under Reports -> Activity Statements.

       
     
         
         Investor Education
         
     

    Automated Customer Account Transfer Service (ACATS)

     
         
         
     

    What is ACATS?  What is an ACAT?

     
       
         
     

    The Automated Customer Account Transfer Service (ACATS) is the National Securities Clearing Corporation's (NSCC) central processing system for the transfer of positions and accounts between brokerage firms that are participants in the NSCC's ACAT program. In short, it is a fast and efficient way to move accounts from one brokerage firm to another.

       
     
         
     

    What does the ACAT system enable me to do?

     
       
         
     

    The ACAT system would allow you to easily enter a partial or full transfer request online to move positions and or cash from other ACAT participant firms.

     
         
     
         
     

    How long does an ACATS transfer usually take?

     
       
         
     

    Under normal circumstances, an ACATS transfer should take between four to eight business days. In certain circumstances, such as an attempt to transfer acceptable, no-load mutual fund shares or non-US assets, this process could take longer. If your assets have not been transferred within 5 business day please give us call at 1-919-719-7200 and let us know. While the sending broker (your old broker) does not have to act this quickly, most brokers do act well within this time frame and if they have not we will work to find out if your request has been delayed, whether or not it has been rejected or if there are other issues that need to be addressed.

     
         
     
         
     

    Should I already have an account open before I initiate an ACATS transfer to PT?

     
       
         

    An ACAT can be entered as an initial funding method in an application, but the request will not begin processing until application approval is granted. ACATs can be submitted through the Account Management menu for any existing account.

     
         
     
         
     

    How do I initiate an ACAT?

     
       
         
     

    ACATS transfers may be initiated as part of the funding section within the new account application as well as via Account Management.

    To set up an account transfer through Account Management please follow these simple steps:

    1. Log in to Account Management
    2. Select Position Transfers from the Funds Management menu
    3. Select ACATS – US Broker Transfer from the Transfer Method drop down list
    4. Choose Full or Partial as the type of ACATS transfer
    5. Select the firm from the Source drop down list 

    Please note that you will need the firm's account number (your account number for the assets that are held at the account that you are moving away from/where your assets are currently being held).

    If you choose Partial as the type of ACATS transfer, you will be prompted to select the assets you want to transfer. In this case please be careful to ensure that you have entered the correct symbols AND checked that the appropriate exchanges are covered. Because we offer international trading (we offer securities that trade on over 100 exchanges around the world), we often find that the same symbols are used for different securities on different world markets. If you enter a symbol for a US security you should be careful to check to see if you have US Securities markets/exchanges checked as well. Otherwise you may accidentally enter a security, which you do not hold in the account that you are transferring, that trades on another market. In this case your ACAT request will automatically be rejected because you do not hold the securities that were entered incorrectly. 

     
         
     
         
     

    What if my current brokerage firm is not listed on the Source drop-down list?

     
       
         
     

    The drop-down list displays Clearing Firms that are participants in the ACATS program. Not all firms are self-clearing. If you do not find your firm on the list, please contact one of their representatives to confirm that they participate in the ACAT system. If yes, ask what firm they clear their transfers through. It may also be helpful to obtain their clearing firm's DTC number if available. The clearing firm's name and information may be located on your account statement so you may wish to check that first to save yourself some time.

     
         
     
         
     

    What products can I transfer? 

     
       
         
     

    Place Trade accepts only products that are available for trading and deemed transferable by the NSCC. Certain products, such as Commodities/Futures, Limited Partnership Units and Restricted Securities are not transferable.

     
         
     
         
     

    What kind of accounts can be transferred to my PT brokerage account?

     
       
         
     

    The ACAT system facilitates the transfer of identically titled/typed accounts between participant firms (i.e. John Doe to John Doe, or Jane Doe, Traditional IRA to Jane Doe, Traditional IRA). In certain instances, the delivering firm may make exceptions to validate requests between non-identical titles (i.e. John E. Doe to J. Edward Doe). New, existing and prospective clients please call us at 1-919-719-7200 for assistance. Existing clients (only) may also contact Funds and Banking directly at 1-877-442-2757 for assistance for questions on common acceptable circumstances. Please have your account number handy when you call.

     
         
     
         Investor Education
         
     

    Deposits

     
         
         
     

    My bank debited my account for the ACH transfer and yet PT has a hold period of four business days. Why?

     
       
         
     

    PT receives value on the business day following its processing date for ACH deposits initiated via the PT website. However, an ACH deposit is essentially an electronic check and therefore the originating bank can reverse the transaction and in this case PT’s bank account will be debited (in the same way that a bounced check would be reversed), because the sender has non-sufficient funds, closed the bank account etc. Therefore, PT has implemented a four-business day hold period to protect itself against these reversals.

    PT wishes to keep its commissions as low as possible and therefore it avoids preventable losses. We encourage our clients to send funds via bank check or wire if they require immediate availability of funds.

     
         
     
         
     

    Where do I enter the ACH Test transactions that I received at my bank?

     
       
         
      Once you have received your two credits and debits in your bank account you may log intoAccount Management and enter them under Home -> Pending Requests or Funds Management -> Transaction History -> Bank Instructions. At this time, it is likely that you will see a red button (with a number on it) next to the Pending tab as soon as you log into your account. This tab will include any pending items that need to be addressed including quick access to enter the ACH debit and credits.  
         
     
         
     

    My bank debited my account for the check that I sent to PT the next day and yet PT has a hold period of seven business days. Why?

     
       
         

    Neither PT nor our clearing firm (IB) knows exactly when client checks actually clear. Our clearing firm has a corporate account and our bank credits corporate accounts based on the expected clearing date of the check. The bank uses ABA routing numbers as a proxy to determine how long it will take a check to clear. For example, PT will receive value on a check drawn on a New York bank faster than it will receive value on a check drawn on a California bank.

    Check processing speed has improved because of system developments other than Check 21. However, the return check process does not seem to have improved yet. When the maker’s bank receives a check for payment it either provides payment or submits notification to the payee’s bank that it will not honor the check for payment because of non-sufficient funds, closed account etc. PT’s bank receives the notification of a returned check via the Federal Reserve and deducts the funds from PT’s bank account since it originally credited PT based on an estimated funds availability schedule (not when the check actually clears). PT then reverses the funds to its client’s PT account. There is no set time frame for returned checks and PT has experienced returned checks up to seven business days.

    Before PT implemented the seven-business day hold period, it experienced losses from returned checks. PT wishes to keep its commissions as low as possible and therefore it avoids preventable losses. We encourage our clients to send funds via bank check or wire if they require immediate availability of funds.

     
         
     
         
     

    My bank debited my account for the Fedwire that I sent to PT and yet PT has not credited the funds to my account yet. Why?

     
       
         
     

    PT's bank typically posts incoming wires to PT's bank account within a few minutes. However, bank posting delays may occur on days with heavy Fedwire activity.

    PT retrieves incoming wires to its bank accounts every 15 minutes during business hours and, if there is match to a deposit notification, our system automatically posts the funds to the client's account.

    Posting delays to client accounts can occur because:

    • the client did not submit a deposit notification(Deposit notifications are required and serve in a similar manner as a deposit slip to avoid processing errors. Location: Account Management > Funding > Fund Transfers)
    • the sending bank improperly formatted the wire (and therefore client identifiers do not appear on our bank reports)
    • the sending bank misspelled the client’s name or incorrectly input other client identifiers so an automatic match to the deposit notification cannot occur
    • PT's bank did not display the client identifiers on its bank reporting system (we then ask our bank for additional details on the incoming wire)

    If we cannot identify the client, then PT will return the funds to the sending bank. This can often be avoided by ensuring that you have triple checked that your deposit notification (that you entered via Account Management) includes your exact bank information and that you have given your bank the exact information that we provide to you after you have filled out the deposit notification (which includes line by line specific information that your bank will need to process your wire request). Please ask your bank to read the information back to you so that you may confirm that they have the proper information to process your request.

    1Please Note: In some cases you will not see that a Fedwire has been processed on a given day due to heavy activity or for wires that were initiated late in the day; in this case it may be booked "as of" the processing date. You will be able to see the posting on the following day (as of the previous day/date of actual posting).

     
         
     
         
     

     

    Does PT accept physical/paper stock certificates?

     
       
         

    No, PT does not accept physical stock certificates.

    How can I put my securities in my brokerage account if you will not accept paper/physical certificates?

    In order to add your paper/physical shares to your PT account you will need to send your paper/physical certificates to the transfer agent (the name of the transfer agent for your particular shares is listed on your stock certificate - often in the lower right hand side of the front of the certificate). Once your transfer agent receives your shares and moves them into electronic form we may transfer the shares to Place Trade.

    Please contact your transfer agent for their specific requirements (for receiving certificates as well as for transferring shares to your PT brokerage account) as they may vary from agent to agent. We do not have their requirements so you must contact them for this information. Transfer agents generally do not include their contact information on the physical certificate however you can easily find this information by entering the transfer agent's name into Google. 

    Please note that you must have an account set up and have USD 100 in available funds settled in your account before we can process the incoming transfer of your shares. Our clearing firm requires this deposit which may be used to cover expenses incurred due to errors or issues that are outside of their control. The funds will remain in your account and a fee will not be charged unless actual errors or issues have incurred. Although most clients do not incur this fee our clearing firm will not begin the process prior to receiving cleared/settled funds in the client's account. There is a great deal of work involved in this process and it is important that we receive the correct information from you (that you should receive from your transfer agent) to help avoid errors.

     
         
     
         Investor Education

     

  • Traditional IRAs Contribution and Deduction Limits ~ 2016

    Traditional IRAs

     

     

    Traditional IRA Contribution and Deduction Limits ~ 2016  

     Traditional IRA Limits 2015   Traditional IRA Limits 2014   Roth IRA Limits 2015   

    Roth IRA Limits 2016     How much can I contribute to my 2016 Traditional IRA?

     

    2016 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2016 Traditional or Roth IRA at any time prior to the 2016 IRS tax filing deadline which is on Monday, April 18, 2017.*

     

    Why Should You Open an IRA? Why Should I Open an IRA?      

     

    Are you eligible to make a tax deductible IRA contribution?

     

     

    Are you (or your spouse)covered by a retirement plan at work? 

     

    What if you (or your spouse) are NOT covered by a retirement plan at work?

     

    What does "covered by" an Employer's Retirement Plan mean?

     

    How much can I contribute to an IRA (if I am eligible)?

     

     

     

    Find out if you can make a tax deductible contribution to your IRA by based on your personal situation. In addition to the effect of modified AGI on deductible contributions you must consider whether or not either you (or your spouse) are covered by a retirement plan at work, how you file you taxes and more. Be sure to review your personal situation with your tax advisor prior to making any tax related decisions or investments.   

     

     

     

    If You ARE Covered by a Retirement Plan at Work

    If you are covered by a retirement plan at work, use this table to help determine if your modified AGI affects the amount of your deduction. 

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single or
    Head of Household

    $61,000 or less

    a full deduction up to the amount of your contribution limit

    more than $61,000 but less than $71,000

    a partial deduction

    $71,000 or more

    no deduction

    Married Filing Jointly or Qualifying Widow(er)

    $98,000 or less

    a full deduction up to the amount of your contribution limit

     more than $98,000 but less than $118,000

      a partial deduction

     $118,000 or more

    no deduction

    Married Filing Separately

     less than $10,000

      a partial deduction

    $10,000 or more

    no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.     

    (View 2015 contribution and deduction limits/information for Traditional IRAs via this link.)
     

    2016 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     

     

    If You are NOT Covered by a Retirement Plan at Work

    If you are notcovered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction.

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single, Head of Household or Qualifying Widow(er)

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly or Separately with a spouse who is not covered by a plan at work

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly with a spouse who is covered by a plan at work

    $184,000 or less

    a full deduction up to the amount of your contribution limit

    more than $184,000 but less than $194,000

    a partial deduction

    $194,000 or more

    no deduction

    Married Filing Separately with a spouse who is covered by a plan at work

     less than $10,000

     a partial deduction

    $10,000 or more

     no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.    

    (View 2014 contribution and deduction limits/information for Traditional IRAs via this link.)
     

    Please view IRS Publication 590 for more details and speak with your tax advisor prior to making any decisions.

     

     

     

    Traditional IRA Contribution Limits ~ 2016 & 2017

     
    You may make an eligible contribution for your 2016 Traditional or Roth IRA at any time prior to the 2016 IRS tax filing deadline which is April 18, 2017. (Your account must be funded or have proof of postmark by this date!)

                           

     

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

     

                                                                                                                                                                                                                                                                   Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs. You cannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

     

    Back to the top: Traditional IRAs

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
     

    Important Notes:

    *MA & ME residentsmay make prior year 2016 IRA contributions thru Tuesday, April 18, 2017.

    Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances. What is an IRA? 


      

     

    Learn about Traditional IRAs

     Learn about IRAs, Traditional IRAs, Roth IRAs, Minimize taxes with qualified contributions to your retirement account.  Make "Catch-up contributions" if you are over 50.  Learn about income limits/deduction limits for Single, Head of household, Qualified widow or widower, married filing jointly, married filing separately, spouse not covered by plan at work, spouse, no plan at work, plan at work, lived with spouse, agi, adjusted gross income, ira deduction, full deduction, partial deductions and so much more!

     
  • Traditional IRAs Contribution and Deduction Limits ~ 2017

     

    Retirement Planning > Individual Investors > Traditional IRAs  What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? How much can I contribute to IRA 2017 or 2018? What are the IRA contribution limits for 2017 and 2018?

     

    How much can I contribute to a Traditional IRA?an IRA?


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

     

    Traditional IRA Contribution Limits 2017

     

    Traditional IRA Contribution Limits 2018

    Open an IRA Account

     

         Get Important Information Regarding your IRA Brokerage Account

     

    What is an Individual Retirement Account?What is an IRA? IRA Definition

    Traditional IRA Contribution and Deduction Limits ~ 2017

    How much money can I put into my IRA (if I am eligible to make a tax-deductible contribution)?

     

    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? 

    What are the IRA contribution limits for 2017? Traditional IRA Contribution Limits ~ 2016, 2017 & 2018

    What is the deadline for contributing to an IRA? 

    ira Roth, ira retirement, ira meaning, ira investment

      

    Roth IRA Limits 2017     Traditional IRA Contribution Limits 2018

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? 

    2017 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2017 Traditional or Roth IRA at any time prior to the 2017 IRS tax filing deadline which is on Tuesday, April 17, 2018.*

     

    Why Should You Open an IRA? Why Should I Open an IRA?      

     

    Are you eligible to make a tax-deductible IRA contribution?

    Whether or not you are eligible to make a tax-deductible IRA contribution this year depends on several factors including your income if either you or your spouse has a retirement plan at work and a number of other factors. To get started we have listed a few of the important questions that you should ask yourself, and review with your tax and/or legal advisor, to find out if you may be eligible to make a tax-deductible IRA contribution this year:

     

     

    Are you (or your spouse)covered by a retirement plan at work? 

     

    What if you (or your spouse) are NOT covered by a retirement plan at work?

     

    What does "covered by" an Employer's Retirement Plan mean?

     

    How much can I contribute to an IRA (if I am eligible)? 

     

     

     

    Find out if you can make a tax-deductible contribution to your IRA by based on your personal situation. In addition to the effect of modified AGI on deductible contributions, you must consider whether or not either you (or your spouse) are covered by a retirement plan at work, how you file your taxes and more. Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

     Is my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  


     

    How much can I contribute to IRA 2017?

    What are theTraditional IRA Deduction Limits for2017? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible Contribution Effect of Modified AGI on Deduction

    What are the IRA contribution limits for 2017? Deductibility Limits

    If You ARE Covered by a Retirement Plan at Work

    If you are covered by a retirement plan at work, use this table to help determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single or
    Head of Household

    $62,000 or less

    a full deduction up to the amount of your contribution limit

    more than $62,000 but less than $72,000

    a partial deduction

    $72,000 or more

    no deduction

    Married Filing Jointly or Qualifying Widow(er)

    $99,000 or less

    a full deduction up to the amount of your contribution limit

     more than $99,000 but less than $119,000

      a partial deduction

     $119,000 or more

    no deduction

    Married Filing Separately

     less than $10,000

      a partial deduction

    $10,000 or more

    no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.     

    (View 2016 contribution and deduction limits/information for Traditional IRAs via this link.) 

    The IRA contribution limit does not apply to Rollover contributions or Qualified reservist repayments.

    2017 Traditional IRA Contribution and Deduction Limits - Effect of Modified AGI on IRA Contributions

     


    How much can I contribute to aTraditional IRA 2017?What are the IRA contribution limits for 2017?

    What are theTraditional IRA Deduction Limits for2017? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible ContributionEffect of Modified AGI on Deduction

     

    If You are NOT Covered by a Retirement Plan at Work Deductibility Limits

    If you are notcovered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single, Head of Household or Qualifying Widow(er)

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly or Separately with a spouse who is not covered by a plan at work

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly with a spouse who is covered by a plan at work

    $186,000 or less

    a full deduction up to the amount of your contribution limit

    more than $186,000 but less than $196,000

    a partial deduction

    $196,000 or more

    no deduction

    Married Filing Separately with a spouse who is covered by a plan at work

     less than $10,000

     a partial deduction

    $10,000 or more

     no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.    

    (View 2016 contribution and deduction limits/information for Traditional IRAs via this link.)
     

    Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions. 

    Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018.

    Learn about Rollover IRAs an how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    What are the Traditional IRA contribution limits for 2017? How much can I contribute to IRA 2017? 

    Traditional IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2017 Traditional or Roth IRA at any time prior to the 2017 IRS tax filing deadline which is Tuesday, April 17, 2018. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) 

    Please Note: For 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2018* ** $5,500 Catch-up Contribution $1,000 $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. You cannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

     

    Back to the top: Traditional IRAs

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes: IRA contribution deadline 2017

    *MA residentsmay make prior year 2017 IRA contributions thru Tuesday, April 17, 2018.

    Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.

    hat is an IRA? 


    What is an IRA? 

    IRA contribution deadline 2017

     

    Learn about Traditional IRAs

     

     

     

  • Traditional IRAs Contribution and Deduction Limits ~ 2018

     

    Retirement Planning > Individual Investors > Traditional IRAs  What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? How much can I contribute to IRA 2017 or 2018? What are the IRA contribution limits for 2017 and 2018?

     

    How much can I contribute to a Traditional IRA?an IRA?


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

     

    Traditional IRA Contribution Limits 2017

     

    Traditional IRA Contribution Limits 2018

    Open an IRA Account

     

         Get Important Information Regarding your IRA Brokerage Account

    Roth IRA Limits 2018     Traditional IRA Limits ~ 2017

     

    What is an Individual Retirement Account?What is an IRA? IRA Definition

    Traditional IRA Contribution and Deduction Limits ~ 2018

    How much money can I put into my IRA (if I am eligible to make a tax-deductible contribution)?


    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? 

    What are the IRA contribution limits for 2018? Traditional IRA Contribution Limits ~ 2016, 2017 & 2018

    What is the deadline for contributing to an IRA? 

     

      

     

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? 

    2018 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2017 Traditional or Roth IRA at any time prior to the 2018 IRS tax filing deadline which is on Monday, April 15, 2019.*

     

    Why Should You Open an IRA? Why Should I Open an IRA?      

     

    Are you eligible to make a tax-deductible IRA contribution?

    Whether or not you are eligible to make a tax-deductible IRA contribution this year depends on several factors including your income if either you or your spouse has a retirement plan at work and a number of other factors. To get started we have listed a few of the important questions that you should ask yourself, and review with your tax and/or legal advisor, to find out if you may be eligible to make a tax-deductible IRA contribution this year:

     

     

    Are you (or your spouse)covered by a retirement plan at work? 

     

    What if you (or your spouse) are NOT covered by a retirement plan at work?

     

    What does "covered by" an Employer's Retirement Plan mean?

     

    How much can I contribute to an IRA (if I am eligible)? 

     

     

     

    Find out if you can make a tax-deductible contribution to your IRA by based on your personal situation. In addition to the effect of modified AGI on deductible contributions, you must consider whether or not either you (or your spouse) are covered by a retirement plan at work, how you file your taxes and more. Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

     Is my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  Take me to the top!


     

    How much can I contribute to IRA 2017?

    What are theTraditional IRA Deduction Limits for2018? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible Contribution Effect of Modified AGI on Deduction

    What are the IRA contribution limits for 2017? Deductibility Limits

    If You ARE Covered by a Retirement Plan at Work

    If you are covered by a retirement plan at work, use this table to help determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single or
    Head of Household

    $63,000 or less

    a full deduction up to the amount of your contribution limit

    more than $63,000 but less than $73,000

    a partial deduction

    $73,000 or more

    no deduction

    Married Filing Jointly or Qualifying Widow(er)

    $101,000 or less

    a full deduction up to the amount of your contribution limit

     more than $101,000 but less than $121,000

      a partial deduction

     $121,000 or more

    no deduction

    Married Filing Separately

     less than $10,000

      a partial deduction

    $10,000 or more

    no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.     

    (View 2016 contribution and deduction limits/information for Traditional IRAs via this link.) 

    The IRA contribution limit does not apply to Rollover contributions or Qualified reservist repayments.

    2018 Traditional and Roth IRA Contribution Limits

     

    Take me to the top!


    How much can I contribute to aTraditional IRA 2017?What are the IRA contribution limits for 2017?

    What are theTraditional IRA Deduction Limits for2018? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible ContributionEffect of Modified AGI on Deduction

     

    If You are NOT Covered by a Retirement Plan at Work Deductibility Limits

    If you are notcovered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single, Head of Household or Qualifying Widow(er)

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly or Separately with a spouse who is not covered by a plan at work

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly with a spouse who is covered by a plan at work

    $189,000 or less

    a full deduction up to the amount of your contribution limit

    more than $189,000 but less than $199,000

    a partial deduction

    $199,000 or more

    no deduction

    Married Filing Separately with a spouse who is covered by a plan at work

     less than $10,000

     a partial deduction

    $10,000 or more

     no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.    

    (View 2016 contribution and deduction limits/information for Traditional IRAs via this link.)
     

    Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions. 

    Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2016 publications as of January 2018. 

    Take me to the top!

    Learn how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    What are the Traditional IRA contribution limits for 2018? How much can I contribute to IRA 2017? 

    Traditional IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2018 Traditional or Roth IRA at any time prior to the 2018 IRS tax filing deadline which is Monday, April 15, 2019, unless special circumstances apply to your legal residence (E.g., Patriots Day or Emancipation Day). Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions. 

    Please Note: For 2016, 2017 and 2018, your total contributions to all of your Traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2016* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2017* **

    $5,500

    Catch-up Contribution

    $1,000

    $6,500

    2018* ** $5,500 Catch-up Contribution $1,000 $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. You cannot exceed the total amount/contribution limit regardless of how many IRAs that you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you rollover your old retirement account or help you start planning for retirement today!  

     

     

    Take me to the top!

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes: IRA contribution deadline 2017

    *MA residentsmay make prior year 2017 IRA contributions thru Tuesday, April 16, 2019.

    Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.

    What is an IRA? 


    What is an IRA? 

    IRA contribution deadline 2017

     

    Learn about Traditional IRAs

     

     

     

  • Traditional IRAs Contribution and Deduction Limits ~ 2019

     

    Retirement Planning > Individual Investors > Traditional IRAs  What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? How much can I contribute to IRA 2017 or 2018? What are the IRA contribution limits for 2017 and 2018?

     

    How much can I contribute to a Traditional IRA?an IRA?


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

     

    Traditional IRA Contribution Limits 2019

     

    Traditional IRA Contribution Limits 2018

    Open an IRA Account

     

         Get Important Information Regarding your IRA Brokerage Account

    Roth IRA Limits 2019

     

    What is an Individual Retirement Account?What is an IRA? IRA Definition

    Traditional IRA Contribution and Deduction Limits ~ 2019

    How much money can I put into my IRA (if I am eligible to make a tax-deductible contribution)?


    Quick Links:

    Am I eligible to make a tax-deductible IRA contribution? 

    What are the IRA contribution limits for 2019? Traditional IRA Contribution Limits ~ 2019

    What is the deadline for contributing to an IRA? 

     

      

     

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2017? 

    2019 Traditional or Roth IRA Deadline:

    You may make a contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is onWednesday, July 15, 2020.*

     

    Why Should You Open an IRA? Why Should I Open an IRA?      

     

    Are you eligible to make a tax-deductible IRA contribution?

    Whether or not you are eligible to make a tax-deductible IRA contribution this year depends on several factors including your income if either you or your spouse has a retirement plan at work and a number of other factors. To get started we have listed a few of the important questions that you should ask yourself, and review with your tax and/or legal advisor, to find out if you may be eligible to make a tax-deductible IRA contribution this year:

     

     

    Are you (or your spouse)covered by a retirement plan at work? 

     

    What if you (or your spouse) are NOT covered by a retirement plan at work?

     

    What does "covered by" an Employer's Retirement Plan mean?

     

    How much can I contribute to an IRA (if I am eligible)? 

     

     

     

    Find out if you can make a tax-deductible contribution to your IRA by based on your personal situation. In addition to the effect of modified AGI on deductible contributions, you must consider whether or not either you (or your spouse) are covered by a retirement plan at work, how you file your taxes and more. Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

     Is my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth   IRA?
    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     


    How much can I contribute to IRA 2019?

     

    What are theTraditional IRA Deduction Limits for 2019? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible Contribution Effect of Modified AGI on Deduction

    What are the IRA contribution limits for 2017? Deductibility Limits

    If You ARE Covered by a Retirement Plan at Work

    If you are covered by a retirement plan at work, use this table to help determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single or
    Head of Household

    $64,000 or less

    a full deduction up to the amount of your contribution limit

    more than $64,000 but less than $74,000

    a partial deduction

    $74,000 or more

    no deduction

    Married Filing Jointly or Qualifying Widow(er)

    $103,000 or less

    a full deduction up to the amount of your contribution limit

     more than $103,000 but less than $123,000

      a partial deduction

     $123,000 or more

    no deduction

    Married Filing Separately

     less than $10,000

      a partial deduction

    $10,000 or more

    no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.      

    The IRA contribution limit does not apply to Rollover contributions or Qualified reservist repayments.

     

    2018 Traditional and Roth IRA Contribution Limits

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


    How much can I contribute to aTraditional IRA 2017?What are the IRA contribution limits for 2017?

    What are theTraditional IRA Deduction Limits for2019? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible ContributionEffect of Modified AGI on Deduction

     

    If You are NOT Covered by a Retirement Plan at Work Deductibility Limits

    If you are notcovered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single, Head of Household or Qualifying Widow(er)

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly or Separately with a spouse who is not covered by a plan at work

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly with a spouse who is covered by a plan at work

    $193,000 or less

    a full deduction up to the amount of your contribution limit

    more than $193,000 but less than $203,000

    a partial deduction

    $203,000 or more

    no deduction

    Married Filing Separately with a spouse who is covered by a plan at work

     less than $10,000

     a partial deduction

    $10,000 or more

     no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.    
     

    Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions. 

    Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2018 publications as of July 9, 2019. Please be sure to search for the most recent publications on the IRS website before making any investment or tax-related decisions.

    Take me to the top!

    Learn how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    What are the Traditional IRA contribution limits for 2018 & 2019? How much can I contribute to IRA 2017? 

    Traditional IRA Contribution Limits ~ 2016, 2017 & 2018

    You may make an eligible contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is Wednesday, April 15, 2020, unless special circumstances apply to your legal residence (E.g., Patriots Day or Emancipation Day). Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions. 

    Please Note: For 2018 and 2019, your total contributions to all of your Traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2018* ** $5,500 Catch-up Contribution $1,000 $6,500

     Source: irs.gov

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. You cannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of your actual compensation. 

    Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you roll over your old retirement account or help you start planning for retirement today!  

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited 

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information! 

     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

    Important Notes: IRA contribution deadline 2017

    *For the 2019 tax year only, the tax filing deadline has been moved to Wednesday, July 15, 2020.

    **MA residents may have additional time to make prior year IRA contributions in years when April 15th falls on a Monday (due to the Patriots Day holiday).

    Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.

    What is an IRA? 


    What is an IRA? 

    IRA contribution deadline 2017

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

  • Traditional IRAs Contribution and Deduction Limits ~ 2020

     

    Retirement Planning > Individual Investors > Traditional IRAs 2020 What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2020? How much can I contribute to IRA 2020 or 2019? What are the IRA contribution limits for 2020 and 2019?

     

     

    How much can I contribute to a Traditional IRA? IRA?


    Traditional IRAs

    Roth IRAs

    Rollover IRAs IRA FAQs

    Funding Reference

     

    Traditional IRA Contribution Limits 2019

     

    Open an IRA Account

     

       Get Important Information Regarding your IRA Brokerage Account

     

    What is an Individual Retirement Account?What is an IRA? IRA Definition

    Traditional IRA Contribution and Deduction Limits ~ 2020

    How much money can I put into my IRA (if I am eligible to make a tax-deductible contribution)?


    Quick Links: Traditional IRA Contribution Limits 2019

    What are the IRA contribution limits for 2020? $6,000 ($7,000 age 50 and better)

    What is the deadline for contributing to an IRA? 

    Am I eligible to make a tax-deductible IRA contribution? 

     


     

    What are the Traditional IRA contribution limits for 2020?  How much can I contribute to IRA 2020?  

    IRA Contribution Limits How much money can I put in my IRA?

    You may make an eligible contribution for your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is Wednesday, July 15, 2019, unless special circumstances apply to your legal residence (E.g., Patriots Day or Emancipation Day). Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions. 

    Please Note: For 2019 and 2020, your total contributions to all of your Traditional and Roth IRAs (combined for the given tax year) cannot be more than:
            

     

    Under Age 50  

     

    Total

    Under Age 50  

     

    Over Age 50

    Additional 

     Total

    Over Age 50

    2019* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

    2020* **

    $6,000

    Catch-up Contribution

    $1,000

    $7,000

     Source: irs.gov

    You may make an eligible contribution for your 2020 Traditional or Roth IRA at any time prior to the 2020 IRS tax filing deadline which is Thursday, April 15, 2021. (Your account must be funded or have proof of postmark by this date! For brokerage accounts - please check to see our clearing firm's required cutoff date for eligible contributions.) We can generally open and fund accounts (make your contributions) with investment companies (think mutual funds) right up to the deadline (as long as you can get your contributions postmarked before the deadline).

    The same general contribution limit applies to both Roth and Traditional IRAs. However, your Roth IRA contribution might be limited based on your filing status and income.

    "Total" means your total contributions to all of your Traditional and Roth IRAs combined for the given tax year. You cannot exceed the total amount/contribution limit regardless of how many IRAs you have or the type/types of IRA(s) that you may have.

    *Or your taxable compensation for the year.                                                                                                                                                           

    ** Effective for the tax year 2002 and beyond, for participants who are eligible to make an IRA contribution and have attained the age of 50 before the end of the taxable year, the participant can make a "catch-up" contribution in addition to the normal contribution amount as shown in the table above. The catch-up contribution was $500 from 2002-2005. For the year 2006 and beyond, the catch-up contribution limit will be $1000. The maximum contribution cannot exceed 100% of the actual compensation. Learn more about COLA Increases for Dollar Limitations on Benefits and Contributions from the IRS.

     

    Please note that the IRA contribution limit does not apply to:

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you roll over your old retirement account or help you start planning for retirement today!  

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    What is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2018? 

    Traditional & Roth IRA Contribution Deadlines

     

     

    Special Notice Regarding COVID-19:

    The IRS has moved the tax deadline for filing 2019 taxes from April 15, 2020 to July 15, 2020. IRA contributions for the 2019 tax year may be made through July 15, 2020.

     

    2020

    For the 2020 tax year (ending December 31, 2020), you can make eligible contributions to an IRA (Traditional or Roth IRA) between January 1, 2020 and Monday, April 15, 2021.

     

    2019 

    For the 2019 tax year (ending December 31, 2019), you may make eligible contributions to your 2019 Traditional or Roth IRA at any time prior to the 2019 IRS tax filing deadline which is on Wednesday, July 15, 2020.* Looking for more info on contributing to a 2019 IRA? Check these out: Roth IRA Limits 2019  Traditional IRA Contribution Limits 2019

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


    Why Should You Open an IRA? Why Should I Open an IRA?      

     

    Are you eligible to make a tax-deductible IRA contribution?

    Whether or not you are eligible to make a tax-deductible IRA contribution this year depends on several factors including your income if either you or your spouse has a retirement plan at work and a number of other factors. To get started we have listed a few of the important questions that you should ask yourself, and review with your tax and/or legal advisor, to find out if you may be eligible to make a tax-deductible IRA contribution this year:

     

     

     

    Can I contribute to an IRA if I participate in a retirement plan at work?

     

    Are you (or your spouse) covered by a retirement plan at work? 

     

    What if you (or your spouse) are NOT covered by a retirement plan at work?

     

    What does "covered by" an Employer's Retirement Plan mean?

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Can I make a contribution to an IRA after age 70½? 

     

    How much can I contribute to an IRA (if I am eligible)? 

     

     

     

     

    Find out if you can make a tax-deductible contribution to your IRA by based on your personal situation. In addition to the effect of modified AGI on deductible contributions, you must consider whether or not either you (or your spouse) are covered by a retirement plan at work, how you file your taxes and more. Be sure to review your personal situation with your tax advisor prior to making any tax-related decisions or investments.

     Is my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in m my Roth IRA?  

     

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


    How much can I contribute to IRA 2020?

    What are theTraditional IRA Deduction Limits for2020? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible Contribution Effect of Modified AGI on Deduction

    What are the IRA contribution limits for 2020? Deductibility Limits

    If You ARE Covered by a Retirement Plan at Work

    If you are covered by a retirement plan at work, use this table to help determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single or
    Head of Household

    $65,000 or less

    a full deduction up to the amount of your contribution limit

    more than $65,000 but less than $75,000

    a partial deduction

    $75,000 or more

    no deduction

    Married Filing Jointly or Qualifying Widow(er)

    $104,000 or less

    a full deduction up to the amount of your contribution limit

     more than $104,000 but less than $124,000

      a partial deduction

     $124,000 or more

    no deduction

    Married Filing Separately

     less than $10,000

      a partial deduction

    $10,000 or more

    no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.     

    The IRA contribution limit does not apply to Rollover contributions or Qualified reservist repayments.

     

    2019 Traditional and Roth IRA Contribution Limits

     

    Eligibility

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    How much can I contribute to aTraditional IRA 2020?What are the IRA contribution limits for 2020?

    What are theTraditional IRA Deduction Limits for2020? 

    Effect of Modified AGI on Your Ability to Make a Tax-deductible ContributionEffect of Modified AGI on Deduction

     

    If You are NOT Covered by a Retirement Plan at Work Deductibility Limits

    If you are notcovered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction. Please note that the deduction is limited only if your spouse IS covered by a retirement plan (IRS).

    If Your Filing Status Is...

    And Your Modified AGI Is... Then You Can Take...
    Single, Head of Household or Qualifying Widow(er)

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly or Separately with a spouse who is not covered by a plan at work

     any amount

    a full deduction up to the amount of your contribution limit

    Married Filing Jointly with a spouse who is covered by a plan at work

    $196,000 or less

    a full deduction up to the amount of your contribution limit

    more than $196,000 but less than $206,000

    a partial deduction

    $206,000 or more

    no deduction

    Married Filing Separately with a spouse who is covered by a plan at work

     less than $10,000

     a partial deduction

    $10,000 or more

     no deduction

     

    If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status.    

     

    Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions. 

    Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2019 publications as of April 20, 2020. 

     

    Eligibility

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

    What does "covered by" an Employer's Retirement Plan mean? 

     

    If you (or your spouse) are covered by an Employer's Retirement Plan, then

     

    The Form W-2 that you receive from your employer has a box that is used to indicate whether you were covered for the year. If you were covered, then the "Retirement plan" box should be checked.

    Reservists and volunteer firefighters should also see "Situations in Which You Aren’t Covered" in IRS Publication 590-A for more information.

    If you are not certain whether you were covered by your employer's retirement plan, you should ask your employer.

     

    Eligibility

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


    Learn how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

    Is my IRA contribution deductible? Can I deduct my ira contribution? Is my Roth IRA Contribution deductible? Can I deduct the money that I put in my Roth IRA?

     you contribute to an IRA if you have a retirement plan at work?

    How much can I contribute to IRA 2018?

    Can I contribute to an IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2019 Traditional IRAs and for 2020.
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

    Eligibility 


     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2019 & $6,000 for 2020), You can put a total of the maximum away ($6,000 in 2019 and another $6,000 in 2020) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     

     Eligibility


    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

    Learn about Rollover IRAs and how easy it is to Transfer your IRA account (from another firm) to an existing account Place Trade®

     

     

    Deductibility limits can be confusing and tax laws are frequently changing. It is always best to review your specific situation and/or circumstances with a qualified tax advisor.

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

     

    NO (If you turned 70 1/2 in 2019)

    YES(If you turned 70½ in 2020 & later years)

     

      YES  
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, you cannot make regular contributions to a Traditional IRA in the year you reach 70½ and older.

    Yes, for tax years 2020 and later, you can make regular contributions to a Traditional IRA in the year you reach 70½ and older.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

    Can I make IRA contributions after age 70½

     Eligibility


     

     

     

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information!>

     

     

     

    Open an IRA online or call us at 1-800-50-PLACE or 1-919-719-7200 to speak with an experienced retirement specialist to help you roll over your old retirement account or help you start planning for retirement today!  

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     


     
       

     

      

     Get More Info About Retirement Planning with these Related Links:

     

     

     

     

    Retirement Planning

    Traditional IRA

    Roth IRA

    SEP IRA

    SIMPLE IRA

    Qualified Plans

    Rollover IRAs

    401(k) Rollover

    Leaving your old 401(k) behind

    Cashing Out of your 401(k)

    Switching Jobs? Know your Options

    From Ramen to Retirement

    Get Advice or Trade Online

    Can I Trade Options or on Margin in my IRA? Yes

    Important Information about IRAs in your Place Trade Brokerage Account

     

     

    Should you have further questions, please contact our Client Service Center at 919-719-7200. Additionally, you may contact us via live chat or secure message (by logging in to Account Managementfor assistance.

     

    ________________________________________________________________________

     

    What is an IRA? 

     

     

     

     

    Open an IRA online or call us to speak with an experienced retirement specialist who can help you roll over your old retirement account or help you start planning for a better retirement today!

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

    Call us today at 1-800-50-PLACE (1-800-507-5223, 919-719-7200) for more information!

     

     


     
     

    Retirement Planning > Individual Investors > RothIRAsWhat is the deadline for contributing to an IRA? What is the deadline for contributing to an IRA for 2020? How much can I contribute to my IRA for 2020 or 2019? What are the IRA contribution limits for 2020 and 2019?

    Please click on the links below to open and close each section:

     

     

     

    Can I contribute to a Roth IRA?  

    Although Roth IRA CONTRIBUTIONS ARE NOT TAX-DEDUCTIBLE, you must be eligible to make a contribution. Use the table below to see if you may be eligible to contribute to a Roth IRA. (This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI as computed for Roth IRA purpose. Source: irs.gov) Please be sure to consult with your tax and/or legal advisor prior to making IRA contributions.

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    $196,000
    $193,000
    up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    a reduced amount
    $206,000 or more
    $203,000 or more
    zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    $193,000
    a reduced amount
    > $10,000
    $193,000 - $202,999
    zero
    $10,000 or more
    $203,000 or more
    zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $124,000
    Less than $122,000
    up to the limit
    $124,000-$138,999
    $122,000-$136,999
    a reduced amount
    $139,000 or more
    $137,000 or more
    zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     


    For more information on IRAs, please call us at 919-719-7200 today.

     

     

     

     

    Can I contribute to a Roth IRA if I participate in a retirement plan at work?
     

    You can contribute to a Traditional or Roth IRA whether or not you (or your spouse) participate in another retirement plan through your employer or business. However, it is important to note that:

    • Traditional IRAs:You may not be able to deduct all of your traditional IRA contributions if you or your spouse participate in another retirement plan at work. View Deductibility Limits for 2019 Traditional IRAs and for 2020
    • Roth IRAs:You may not be able to make a Roth IRA contribution or your contribution may be limited if you make too much money. Please review the chart below to see if you are eligible to make a Roth IRA contribution. Please remember that Roth IRA contributions are NOT tax-deductible.

     


     

     

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited


     

     

     

     

     

    Will your 2020 contribution to a Roth IRA be affected by the amount of your modified AGI?

     

    If You ARE Covered by a Retirement Plan at Work

    If you (or your spouse) are covered by a retirement plan at work, your modified AGI affects the amount of your deduction/the amount that you can contribute and receive a deduction. For example, if you receive a full deduction you can contribute up to the limit of $6,000 (under 50) or $7,000 (50 and up) for both 2019 & 2020.

    If your filing status is:

    2020

    And your modified AGI is:

    2019

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly or qualifying widow(er)

    Less than $104,000
    $103,000 or less
    up to the limit
    $104,000but less than $124,999
    $103,000but less than $123,999
    a reduced amount
    $124,000 or more
    $123,000 or more
    Zero

    Married filing separately andyou lived with your spouse at any time during the year

    Less than $10,000
    Less than $10,000
    a reduced amount
    > $10,000
    > $10,000
    Zero
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or married filing separately andyou did not live with your spouse at any time during the year

    Less than $65,000
    Less than $64,000
    up to the limit
    $65,000 but less than $75,000
    $64,000 but less than $74,000
    a reduced amount
    $75,000 or more
    $74,000 or more
    Zero
    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

     


     

     

     

     

    2020 IRA Contribution and Deduction Limits Effect of Modified AGI on Deductible Contributions

     

    If You are NOT Covered by a Retirement Plan at Work

     

    What is your tax filing status?

    2020

    2019

    Allowable Contribution

    If your tax filing status is:

    And your modified AGI is:

    And your modified AGI is:

    Then you can contribute:

    Married filing jointly with a spouse who is covered by a plan at work

    $196,000
    $193,000
    Full/up to the limit
    $196,000 - $205,999
    $193,000 - $202,999
    Partial/a reduced amount
    $206,000 or more
    $203,000 or more
    Zero

    Married filing jointly or separatelywith a spouse who is notcovered by a plan at work

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Married filing separatelywith a spouse who iscovered by a plan at work

    Less than $10,000 Less than $10,000 Partial/a reduced amount
    $10,000 or more
    $10,000 or more
    Zero

    Single, head of household, or qualifying widow(er)

    Any amount
    Any amount
    a full deduction up to the amount of your contribution limit.

    Call us today at 919-719-7200 to easily set up your Roth IRA or to or rollover your old Roth IRA account to Place Trade!

     

    IRAs - Traditional, Roth, SEP, Rollovers and Inherited

     

     

     


     

     

     

    Can I contribute to both a Roth IRA and a Traditional IRA in the same year?

     

    Yes, if eligible, you can contribute to both a Traditional and Roth IRA in the same tax year. However, it is important to note thatyour total contributions to all of your traditional and Roth IRAs (combined for the given tax year) cannot be more than you are eligible for under the given year's IRA Contribution Limits. You cannot double down and put the maximum in each.

    Think of it like this: if you are under 50* and you are fully eligible to make the maximum contribution for the year ($6,000 in 2019 & $6,000 for 2020), You can put a total of the maximum away ($6,000 in 2019 and another $6,000 in 2020) in either a Roth, a Traditional IRA or in any combination of the two as long as you do not exceed the annual contribution limit. *50 and over allows catch up contributions of an additional $1,000.

     

       

     

    For example,

    You could split it 50/50 and put $3,000 in each or you could put $500 in your Roth IRA and $5,500 in your Traditional IRA.

    You can split it up any way that you would like - just keep in mind that it may not make sense to have an IRA with a super low balance in it because you may not be able to do much with it (as far as diversifying goes) and you may incur account fees (at most firms) that could eat into your long term saving goals. 

     

       

     

    The amount that you put in the Traditional IRA will be tax-deductible now and the amount that you put in the Roth will receive tax benefits when you take the money out (unless there are changes to the tax laws or you take an unqualified distribution - which, of course, we do not recommend).  

    *If you are 50 or better, you get to add even more money thanks to your Catch-up contributions!

     

     

    Can I make a contribution to an IRA after age 70½?

     

     

     

     

     
    Traditional IRA
     
    Roth IRA
     
     

    NO (If you turned 70 1/2 in 2019)

    YES(If you turned 70½ in 2020 & later years)

     

      YES

     

     
     

     

     

    Contributions to IRAs after age 70½

     

    Can I make a contribution to my Traditional IRA after age 70½?
    No, you cannot make regular contributions to a Traditional IRA in the year you reach 70½ and older.

    Yes, for tax years 2020 and later, you can make regular contributions to a Traditional IRA in the year you reach 70½ and older.

     

    Can I make a contribution to my Roth IRA after age 70½?
    Yes, you can still contribute to a Roth IRA and make rollover contributions to a Roth or traditional IRA regardless of your age.

     

     

     

     


     

     

     


     

     

     

     
       

     

    ________________________________________________________________________

    Important Notes:IRA contribution deadline 2018

    • *MA residents may make prior year 2018 IRA contributions through Tuesday, April 16, 2019.
    • Please be sure to check with your tax and/or legal advisor prior to making any contributions, withdrawals or other changes to your retirement account. Place Trade Financial, Inc. does not offer tax or legal advice. Information provided by Place Trade is for educational purposes and should not be considered as tax or legal advice under any circumstances.
    • Please view IRS Publication 590: Publication 590-A (Contributions to Individual Retirement Arrangements (IRAs)) and IRS Publication 590-B Distributions from Individual Retirement Arrangements (IRAs) for more details and speak with your tax advisor prior to making any decisions.
    • Please be sure to look for the matching tax year when reviewing IRS Publication 590 (Publications 590-A and 590-A). We have included these links to the IRS website's pages covering Publications 590-A and 590-A for your convenience. The IRS site still shows the 2019 publications as of April 20, 2020.
     

    What is an IRA? 

    IRA contribution deadline 2020

    Open a Traditional or Roth IRA today and enjoy after-tax benefits while you save for retirement.

     

     

    Learn about Traditional IRAs
     

s5box


Learn more about retirement planning by visiting some of the links below:

Roth IRA

SEP IRA

SIMPLE IRA

Traditional IRA

Qualified Plans

Rollover IRAs

Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

529 College Savings Plans

UGMA/UTMA Accounts