Personal Investments • Old IRA contributions deductible or non-deductible and now need to start RMDs

You could look at your SS income statements to see how much money you made and check to see what the ira deduction cutoff was that year. Plus, limits were pretty low in the beginning.

https://personal-finance.extension.org/ ... -the-past/

IRA maximum contribution limits have increased over the years. They started in 1975 with a $1,500 limit from 1975-1981, $2,000 limit from 1982-2001, $3,000 limit from 2002-2004, $4,000 limit from 2005-2007, $5,000 limit from 2008-2012, and $5,500 limit from 2013-2018.

The other variable is whether your wife worked. I seem to recall only being able to put in $250 for my wife in the 80s. Ahh, here it is, $250 from 76 to 96

https://dqydj.com/historical-ira-contribution-limit/

Statistics: Posted by mhalley — Fri Apr 05, 2024 12:25 am — Replies 1 — Views 87

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