By Jenny Kiffmeyer, J.D – The Retirement Learning Center
How can a married couple make a $32,000 IRA contribution?
Highlights of the discussion
Married couples can take advantage of a combination of special IRA contribution rules to make up to a $32,000 IRA contribution by April 15, 2025. This sizeable contribution is possible courtesy of a combination of several IRS rules covering
- Carry-back and current-year contributions,
- Spousal contributions, and
- Catch-up contributions.
- From January 1, 2025, to April 15, 2025, it is possible for a traditional or Roth IRA owner aged 50 and over to make a $16,000 contribution: $8,000 ($7,000 regular + $1,000 catch-up contribution) as a 2024 carry-back contribution and another $8,000 ($7,000 regular + $1,000 catch-up contribution) as a 2025 current-year That means a married couple filing a joint tax return could potentially make a $32,000 IRA contribution, with a maximum of $16,000 going to each spouse’s respective IRA. For couples under age 50, the maximum contribution would be $28,000, with a maximum of $14,000 going to each spouse’s respective IRA.
- When making these contributions it is important to clearly designate to the IRA administrator that a portion is a carry-back contribution for 2024 and a portion is a 2025 current-year contribution to avoid having the full amount treated as a current-year contribution and, subsequently, an excess contribution for 2025.
- Such a large, combined contribution for the couple would only be possible if
- The couple had not previously made a 2024 contribution to a traditional or Roth IRA,
- Each spouse was age 50 or older as of as of December 31, 2024,
- The couple had/has earned income for 2024 and 2025 to support the contributions, and
- For a Roth IRA contribution, the couple’s income is under the modified adjusted gross income (MAGI) limits for Roth IRA contribution eligibility (see the chart that follows).
- Whether the traditional IRA contributions would be tax deductible depends upon “active participation” of either spouse in a workplace retirement plan [1] and the couple’s MAGI. Please see the applicable MAGI ranges in the following chart.
Traditional IRA Eligibility for Deductible Contributions
| Taxpayer Category | 2025 MAGI Phase-Out Ranges | 2024 MAGI Phase-Out Ranges |
|---|---|---|
| Married active participant filing a joint income tax return | $126,000-$146,000 | $123,000-$143,000 |
| Single or head of household active participant | $79,000-$89,000 | $77,000-$87,000 |
| Spouse of an active participant | $236,000-$246,000 | $230,000-$240,000 |
| Married active participant filing separate income tax return | $0-$10,000 | $0-$10,000 |
Roth IRA Contribution Eligibility
| Taxpayer Category | 2025 MAGI Phase-Out Ranges | 2024 MAGI Phase-Out Ranges |
|---|---|---|
| Married filing a joint income tax return | $236,000-$246,000 | $230,000-$240,000 |
| Single or head of household individuals | $150,000-$165,000 | $146,000-$161,000 |
| Married filing separate income tax return | $$0-$10,000 | $0-$10,000 |
Conclusion
The deadline for making 2024 traditional or Roth IRA contributions is April 15, 2025. That means there is a window of opportunity that allows eligible couples age > age 50 to double their IRA contributions (one for 2024 and one for 2025) for a total of $32,000. For couples under age 50, the maximum combined contribution would be $28,000.
[1] See IRA Deduction Limits
