The total IRA contribution limit (for Roth and Traditional IRAs combined) for 2018 is the lesser of:

• $5,500 ($6,500 if you are age 50 or older)
  or
• Your taxable compensation for the year, if your compensation was less than this dollar limit.

However, if your modified AGI is above a certain amount, your contribution limit may be reduced.

Please refer to IRS Publication 590-A Contributions to Individual Retirement Arrangements, for additional information.