2026 Tax Reference Amounts
56Here is a list of the common items that we are asked about the corresponding amounts.
Retirement Accounts
| IRA Contribution Limit (Through Age 49) | $7,500 |
| IRA Contribution Limit (Age 50 and Up) | $8,500 |
| 401(k) Contribution Limit (Through Age 49) | $24,500 |
| 401(k) Contribution Limit (Age 50 and Up except ages 60-63) | $32,500 |
| 401(k) Contribution Limit (Ages 60-63) | $35,750 |
The phase-out limits for deducting contributions to a Traditional IRA (based on AGI):
| Filing joint and active participant in employer's retirement plan | $129,000 - $149,000 |
| Filing single or head-of-household and active participant in employer's retirement plan | $86,000 - $106,000 |
| Married but filing separate and active participant in employer's retirement plan | $0 - $10,000 |
| Not active participant in employer's retirement plan but spouse is an active participant (filing joint) | $242,000 - $252,000 |
There are different phase-outs for who can contribute to a Roth IRA (based on AGI):
| Filing joint | $242,000 - $252,000 |
| Filing single or head-of-household | $153,000 - $168,000 |
| Married but filing separate | $0 - $10,000 |
| SEP maximum contribution (Owner, 20% of $72,000) | $14,400 |
| SEP maximum contribution (Employee, 25% of $72,000) | $18,000 |
| SIMPLE maximum contribution (Under age 50) | $17,000 |
| SIMPLE maximum contribution (Ages 50 or older) | $21,000 |
| SIMPLE maximum contribution (Ages 60-63) | $22,250 |
Social Security
Amounts related to withholding or credits:
| Income subject to OASDI (SS updated this) | $184,500 |
| Income subject to Medicare | No limit |
| Maximum OASDI to be paid by employee (6.2%) | $11,439.00 |
| Amount to earn 1 credit (self-employed) | $1,890 |
Maximum earnings and still receive full Social Security benefits:
| Under full retirement age (prior years) Social Security benefit reduced $1 for every $2 over limit. | $24,480/yr $2,040/mo |
| Year of full retirement (only months prior to reaching full retirement age) Social Security benefit reduced $1 for every $3 over limit. | $65,160/yr $5,430/mo |
| Full retirement age | No limit |
Medicare
| Standard Part B Premium (ignoring hold-harmless provision) | $202.90 |
| IRMAA Maximum 2024 income for standard Part B premium (Single) | $109,000 |
| IRMAA Maximum 2024 income for standard Part B premium (Joint) | $218,000 |
Health Saving Account (HSA) Limitations
Annual contribution limits:
| Self-only Coverage (Through Age 54) | $4,400 |
| Self-only Coverage (Age 55 and Up) | $5,400 |
| Family Coverage (Through Age 54) | $8,750 |
| Family Coverage (Age 55 and Up) | $9,750 |
Minimum annual policy deductibles:
| Self-only Coverage | $1,700 |
| Family Coverage | $3,400 |
Maximum annual out-of-pocket expense:
| Self-only Coverage | $8,500 |
| Family Coverage | $17,000 |
Mileage Rates
| Business use | 72.5¢ |
| Portion of business deduction allocated to depreciation | 35¢ |
| Medical and Moving | 20.5¢ |
| Charitable (statutory) | 14¢ |
Miscellaneous Items
| Maximum annual gift amount | $19,000 |
| Kiddie Tax threshold (oversimplified - no earned income) | $1,350 |
| Kiddie Tax threshold (unearned income) | $2,700 |