First IRA Contribution of 2026

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Happy New Year Everyone! I made my first IRA contribution of 2026! I put $1,750 into my traditional IRA and then converted it to a roth contribution.  For 2026, single filers must have a modified adjusted gross income of less than $153,000 to make a full contribution directly to a roth IRA. The ability to contribute directly to a roth phases out at $168,000 for single filers. 

My salary is $175,000 so I expect to exceed the MAGI limits for direct contributions for a Roth in 2026. So, I utilize a back door roth contribution. I contribute to a traditional IRA with after tax dollars and then convert the contribution to a roth contribution. This conversion is tax free. 

The maximum contribution to an IRA this year, for people under 50, is $7,500. Only $5,750 to go! 

Have you started your ira contributions for 2026? How much do you have left to contribute? 

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