2013 IRA Contributions & Deductions Guide

IRAs & Other

Accounts
$5,500
Max Contribution Limit Standard

$51,000

$51,000

$17,500 $12,000

$5,500

$2000

TRADITIONAL IRA
Max Catch-Up Distributions Contributions Account Creation Deadline Contribution Deadline
(Age 50 and older) $6,500 Tax-Deferred Deductible

ROTH IRA
$6,500 Tax-Free Not Deductible

ROTH 401(k)
$23,000 Tax-Deferred Not Deductible

SOLO 401(k)
$56,500 Tax-Deferred Deductible

SIMPLE IRA
$14,500 Tax-Deferred Deductible

SEP IRA
None Tax-Deferred Deductible Employers tax-filing deadline ** 4/15/2014

CESA
None Tax-Free Not Deductible

4/15/2014

4/15/2014

12/31/2013

12/31/2013

4/15/2014

4/15/2014

4/15/2014

4/15/2014

4/15/2014

4/15/2014

4/15/2014

4/15/2014

Traditional IRA

INDIVIDUAL RETIREMENT PLANS

IF YOU ARE COVERED BY A RETIREMENT PLAN AT WORK
FULL DEDUCTION PARTIAL DEDUCTION NO DEDUCTION

2013 Tax Deduction Limits - Based on Modified Adjusted Gross Income (MAGI)

Single or Head of Household

< $59,000

> $59,000 but < $69,000

> $69,000

Married Filing Jointly or Qualifying Widow(er)

< $95,000

> $95,000 but < $115,000

> $115,000

Married Filing Separately

< $10,000

> $10,000

IF YOU ARE NOT COVERED BY A RETIREMENT PLAN AT WORK

FULL DEDUCTION PARTIAL DEDUCTION NO DEDUCTION

Single or Head of Household or Qualifying Widow(er)

Any Amount

Married Filing Jointly or Separately (with a spouse who is not covered by a plan at work)

Any Amount

Married Filing Jointly (with a spouse who is covered by a plan at work)

< $178,000

> $178,000 but < $188,000

> $188,000

Married Filing Separately (with a spouse who is covered by a plan at work)

< $10,000

> $10,000

Roth IRA

2013 Contribution Limits - Based on Modified Adjusted Gross Income (MAGI)

UP TO THE LIMIT A REDUCED AMOUNT NO CONTRIBUTION

Single, Head of Household or Married Filling Separately (and you did not live with your spouse at any time during the year)

< $112,000

> $112,000 but < $127,000

> $127,000

Married Filing Jointly or Qualifying Widow(er)

< $178,000

> $178,000 but < $188,000

> $188,000

Married Filing Separately (and you lived with your spouse at any time during the year)

< $10,000

> $10,000

Roth 401(k)

Total annual contribution (Employee and Employer contributions) cannot exceed the lesser of:

100% OF THE PARTICIPANTS COMPENSATION OR $51,000

($56,500 INCLUDING CATCH-UP CONTRIBUTIONS)

SMALL BUSINESS RETIREMENT PLANS

Simple IRA
Employer must contribute a matching contribution up to

SEP IRA
Employer contributes only

Solo 401(k)
Employee can contribute up to

3% or a 2% nonelective contribution
of employees salary
Employees may contribute through salary deduction

25% of employees salary up to $51,000

maximum employer contribution limit Maximum considered compensation of $255,000
Employees may contribute through salary deduction

$17,500 or $23,000 (if 50 or older)

Employer can contribute up to

$33,500

CESA

OTHER PLANS
UP TO THE LIMIT A REDUCED AMOUNT NO CONTRIBUTION

2013 Contribution Limits - Based on Modified Adjusted Gross Income (MAGI)

Single, Head of Household or Married Filling jointly

< $95,000

> $95,000 but < $110,000

> $110,000

Married Filing Jointly

< $190,000

> $190,000 but < $220,000

> $220,000

* Maximum contribution for both Traditional and Roth IRAs combined. ** 2013 account must be established by thew employers tax filing deadline for the tax year contributions.

ET-0073-01

2013 Equity Trust. All Rights Reserved.