2012 IRA Contribution and Deduction Limits - Effect of Modified AGI on Deductible Contributions if You are NOT Covered by a Retirement Plan at Work
If you are not covered by a retirement plan at work, use this table to determine if your modified AGIaffects the amount of your deduction.
If Your Filing Status Is... | Then You Can Take... | |||
|---|---|---|---|---|
| single, head of household, or qualifying widow(er) | any amount | a full deduction up to the amount of yourcontribution 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 yourcontribution limit. | ||
| married filing jointly with a spouse who iscovered by a plan at work | $173,000 or less | a full deduction up to the amount of yourcontribution limit. | ||
more than $173,000 but less than $183,000 | a partial deduction. | |||
$183,000 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. | ||||
2012 IRA Contribution and Deduction Limits - Effect of Modified AGI on Deductible Contributions If You ARE Covered by a Retirement Plan at Work
If you are covered 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... | Then You Can Take... | |
|---|---|---|
| single or head of household | $58,000 or less | a full deduction up to the amount of your contribution limit. |
more than $58,000 but less than $68,000 | a partial deduction. | |
$68,000 or more | no deduction. | |
| married filing jointly or qualifying | $92,000 or less | a full deduction up to the amount of your contribution limit. |
more than $92,000 but less than $112,000 | a partial deduction. | |
$112,000 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. | ||
