What is the Maximum IRA Contribution Amount?

Question: What is the Maximum IRA Contribution amount?

Answer: The Maximum IRA Contribution amount for Tax Year 2020 (filing in 2021) is the following:

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IRS allows people over 50 years old to “catch up” with their IRA account.  The Maximum IRA contributions include all of the 401k, 403b, and 457 Plans is $26,000 for tax year 2020.

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