Giving Thanks for Good News
Before we stuff ourselves, shop ‘til we drop and turn into an armchair coach, let’s pause to appreciate the IRS for releasing the 2026 cost-of-living adjustments (COLA). These updates bring positive changes for retirement savers and charitable givers.
IRA Contribution Limits for 2026
The IRS has increased the Traditional and Roth IRA contribution limits for 2026. This means you can save more for retirement in tax-advantaged accounts.
Deductibility and Income Phase-Outs
The deductibility limits for Traditional IRAs and the income phase-out ranges for Roth IRAs have also risen. These adjustments help more taxpayers qualify for tax benefits.
Qualified Charitable Distribution (QCD) Updates
Charitable giving gets a boost too. The annual QCD limit has grown to $111,000, and the one-time lifetime election for split-interest gifts—such as charitable remainder trusts or gift annuities—has increased to $55,000.
These changes allow Traditional and Inherited Traditional IRA owners age 70½ and older to make larger tax-efficient gifts to charity.
Learn More
Download our Overview of IRAs 2026 (PDF) for full details on contribution limits, deductibility rules, and charitable giving strategies.
Frequently Asked Questions
The IRS has increased IRA contribution limits for 2026.
– Maximum Contribution for those under age 50 – $7,500
– Maximum Contribution for those age 50 and older – $8,600
Full deduction, regardless of MAGI, when you and if married your spouse are not covered by a work place retirement plan (WRP).
Covered by a WRP:
– Single: Full if MAGI < $81,000; partial $81,000–$91,000; none > $91,000.
– Married filing jointly: Full if MAGI < $129,000; partial $129,000–$149,000; none > $149,000.
– Married filing separately: Partial if MAGI $0–$10,000; none > $10,000.
One spouse covered by WRP, one not:
– Joint: Full if MAGI < $242,000; partial $242,000–$252,000; none > $252,000.
– Separate: Partial if MAGI $0–$10,000; none > $10,000.
– Single: Full if MAGI < $153,000; partial $153,000–$168,000; none > $168,000.
– Married filing jointly: Full if MAGI < $242,000; partial $242,000–$252,000; none > $252,000.
– Married filing separately: Partial if MAGI $0–$10,000; none > $10,000.
The annual QCD limit is $111,000, and the one-time split-interest election is $55,000.
Yes, if you have a Traditional IRA or Traditional Inherited IRA and are age 70½ or older, you can elect to make a single lifetime election up to $55,000. This amount counts towards your maximum limit for the year of the election.
