Like 2013, for 2014, the maximum you can contribute to a traditional self-directed IRA or Roth self-directed Roth IRA is the smaller of:
- $5,500 ($6500 if you’re age 50 or older), or
- your taxable compensation for the year.
The self-directed IRA contribution limit does not apply to:
- Rollover contributions
- Qualified reservist repayments
Claiming a tax deduction for your IRA contribution
Your traditional IRA contributions may be tax-deductible. The deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels.
- IRA Deduction Limits
Self-Directed Roth IRA contribution limit
The same general contribution limit applies to both self-directed Roth and traditional self-directed IRAs. However, your self-directed Roth IRA contribution might be limited based on your filing status and income.
To learn more about the self-directed IRA LLC, please contact a tax professional at 800-472-0646