--- title: 'IRA Contribution Deadline: There''s Still Time to Lower Your Taxable Income for 2021' description: The deadline to make tax-deductible contributions to your IRA for 2021 is April 18. You have until then to lower your 2021 taxable income. authors: - name: Javier Simon url: https://money.com/author/javier-simon/ bio: Javier is a personal finance reporter covering retirement, investing, crypto and more. His work has appeared on leading financial websites including NerdWallet, Bankrate and SmartAsset. He’s also written for newspapers, magazines and video. at_money_since: 2021 articles: 39 covers: - Retirement - Banking - Business - Career Advice - Credit - Economy and Politics - Housing - Investing - Loans - Personal Finance - Shopping - Taxes - Technology former_staff: true published: '2022-04-07T18:44:49.000Z' modified: '2024-01-10T17:23:01.000Z' section: Retirement tags: - News word_count: 444 canonical: https://money.com/ira-contribution-deadline-2022/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Photo illustration of a calendar marking April 18, 2022](https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022.jpg) Taxpayers have a few more days to file their taxes this year, and that means you also have some extra time to contribute to your individual retirement account (IRA) for 2021. The [deadline to file your federal income tax return](https://money.com/tax-deadlines-state-federal-extension/) for 2021 is April 18, 2022. It's usually April 15, but this year that falls on Emancipation Day, a holiday recognized by the nation’s capital. So the tax filing deadline was pushed to the next business day. And since the tax deadline is also the last day you can make a contribution to your IRA for the prior year, that deadline is also April 18. Here's what you need to know about IRA contributions for 2021. For 2021 and 2022, the IRA contribution limit is $6,000 for those under 50 or $7,000 if you’re at least 50-years-old. You may be able to deduct the contributions you make to your traditional [IRA](https://money.com/what-is-an-ira/) from your income, which can ultimately lower your tax bill or boost your [tax refund](https://money.com/wheres-my-refund/). So how do you know if you can claim tax benefits based on your traditional IRA contributions? Here’s how it works. If you aren't covered by a workplace retirement plan such as a [401(k)](https://money.com/401k-and-401k-rollover/) — and if you're married, your spouse isn't either — your deduction is allowed in full up to the contribution limit for the applicable tax year. However, tax-deductible contributions may be limited depending on your income if you (or your spouse) have a workplace retirement plan such as a 401(k). In such a case, you may be able to take a partial deduction or none at all. Here’s how it works if you alone are covered by a retirement plan at work and you want to make tax-deductible contributions for the 2021 tax year. ![Deadline Contribution Chart](https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022-Chart-1.png) Here's how it works if you aren't covered by a retirement plan at work, but your spouse is. This also applies to contributions for the 2021 tax year. ![Deadline Contribution Chart](https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022-Chart-2.png) If you believe you're eligible for a partial deduction, you can calculate it by using the worksheet on [Page 17 of IRS Pub 590-A](https://www.irs.gov/pub/irs-pdf/p590a.pdf). Some [tax software](https://money.com/best-tax-prep-software/) may calculate this for you too. If you have a [Roth IRA](https://money.com/understanding-roth-iras/), you won’t be able to make tax-deductible contributions to your retirement account. Roth contributions are post-tax, and while you don't earn a tax-deduction in the contribution year, you can withdraw your contributions tax-free at any time (earnings may be subject to taxes and penalties under certain circumstances). ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/ira-contribution-deadline-2022/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Retirement", "item": "https://money.com/retirement/" }, { "@type": "ListItem", "position": 3, "name": "IRAs", "item": "https://money.com/iras/" }, { "@type": "ListItem", "position": 4, "name": "IRA Contribution Deadline: There's Still Time to Lower Your Taxable Income for 2021" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/ira-contribution-deadline-2022/#webpage", "url": "https://money.com/ira-contribution-deadline-2022/", "name": "IRA Contribution Deadline: There's Still Time to Lower Your Taxable Income for 2021", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2022-04-07T18:44:49.000Z", "mainEntity": { "@id": "https://money.com/ira-contribution-deadline-2022/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/ira-contribution-deadline-2022/#breadcrumb" }, "dateModified": "2024-01-10T17:23:01.000Z" }, { "@type": "NewsArticle", "headline": "IRA Contribution Deadline: There's Still Time to Lower Your Taxable Income for 2021", "articleSection": "Retirement", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022.jpg", "width": 2880, "height": 1920, "caption": "News-Deadline-Contributing-IRA-2022" }, { "@type": "ImageObject", "url": "https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022-Chart-1.png", "width": 800, "height": 960 }, { "@type": "ImageObject", "url": "https://img.money.com/2022/04/News-Deadline-Contributing-IRA-2022-Chart-2.png", "width": 800, "height": 748 } ], "author": [ { "@type": "Person", "name": "Javier Simon", "url": "https://money.com/author/javier-simon/", "@id": "https://money.com/author/javier-simon/#author", "description": "Javier is a personal finance reporter covering retirement, investing, crypto and more. 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