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Category: Tax Questions

Maximum Pension Plan Contributions

 2015 - 20182014
Traditional and Roth IRAsUnder age 50 = $5,500
Age 50 or older = $6,500
Under age 50 = $5,500
Age 50 or older = $6,500
SEP-IRA (Employees)

25% of wages up to $53,000 (2015 & 2016)

25% of wages up to $54,000 (2017)

25% of wages up to $55,000 (2018)

25% of wages up to $52,000
SEP-IRA
(Self-employed)

20% of net SE income after one-half
SE tax deductions, up to $53,000 in 2015 & 2016, up to $54,000 in 2017 and up to $55,000 in 2018

20% of net SE income after one-half
SE tax deductions, up to $52,000
SIMPLE IRA (employees and
self employed)
Under age 50 = Elective deferrals up to $12,500
Age 50 or older = Elective deferrals up to $15,500
Under age 50 = Elective deferrals up to $12,000
Age 50 or older = Elective deferrals up to $14,500


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NOTE: This is a guide for entering information into the TaxSlayer Pro program.  This is not intended as tax advice. Confirm any figures with the IRS

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Last Updated: 6/1/2018


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