Common use of Maximum Xxxx XXX Contribution Clause in Contracts

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 for 2019 and 2020, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 2020.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2014 and 20202015, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 181,000 (for 20192014) or $196,000 183,000 (for 20202015) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 114,000 (for 20192014) or $124,000 116,000 (for 20202015) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 191,000 (for 20192014) or $206,000 193,000 (for 20202015) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 129,000 (for 20192014) or $139,000 131,000 (for 20202015) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202015.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2017 and 20202018, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 186,000 (for 20192017) or $196,000 189,000 (for 20202018) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 118,000 (for 20192017) or $124,000 120,000 (for 20202018) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 196,000 (for 20192017) or $206,000 199,000 (for 20202018) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 133,000 (for 20192017) or $139,000 135,000 (for 20202018) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202018.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 for 2019 and 2020, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA XXX (i.e., an IRA XXX subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 2020.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2015 and 20202016, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 183,000 (for 20192015) or $196,000 184,000 (for 20202016) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 116,000 (for 20192015) or $124,000 117,000 (for 20202016) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 193,000 (for 20192015) or $206,000 194,000 (for 20202016) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 131,000 (for 20192015) or $139,000 132,000 (for 20202016) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202016.