IRA Chart Your Eligibility

Now that you understand the basic differences between Traditional and Roth IRAs, use the following chart to determine your eligibility for each. Start charting y our way to savings today!

Roth IRA vs. Traditional IRA Traditional IRA Traditional IRA Traditional / Partial Roth Traditional / Partial Roth Traditional / Roth Traditional / Roth Traditional / Roth Traditional / Roth Roth IRA Roth IRA Roth / Partial Traditional Roth / Partial Traditional

Please Note: This flow chart is intended to help you determine your contribution options with regard to Roth and/or deductible Traditional IRAs. This flow chart cannot, and should not be expected to, replace competent professional tax advice.

  Key

Traditional IRA (A)
You are ineligible to contribute to a Roth IRA, but eligible to contribute up to $4,000 to a deductible Traditional IRA.1

Traditional / Partial Roth (B)
You are only eligible for a partial contribution to a Roth IRA. However, you are eligible for a full or paid contribution to a Traditional IRA.1,2

Traditional / Roth (C)
You are eligible for either a fully deductible contribution to a deductible Traditional IRA or full contribution to a Roth IRA.2

Roth IRA (D)
You are ineligible to make a deductible contribution to a Traditional IRA. However, you are eligible for a full $5,0003 contribution to a Roth IRA.

Roth / Partial Traditional (E)
You are eligible for either a partial contribution to a deductible Traditional IRA or a full or particle contribution to a Roth IRA.2

  1. Note: Traditional IRA deductibility is contingent upon whether you, or your spouse, are considered an active participant in an employer-sponsored retirement plan.
  2. Whether you should make a full $5,000 contribution to one type of IRA, or split your contribution to one type of IRA, or split your contribution between a Roth and Traditional IRA depends upon additional variables such as your anticipated tax rate at retirement and the age at which you intend to begin drawing funds from the IRA.
  3. If you are age 50 years or older by the close of the taxable year, you may make an additional $1,000 catch-up contribution.
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