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Self-Directed IRA LLC Contribution Limits to Remain the Same in 2014

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.

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Posted in Self-Directed IRA