Age limit for 2022 IRA contribution?

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For 2022, can a 73-yr old worker contribute to IRA?

Age limit was removed last year, was that a one-time rule?

What about EIC age limits in 2022?

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qbteachmtAnswer

Level 15

Here is the IRS info for IRA:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits

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qbteachmtAnswer

Level 15

Here is the IRS info for IRA:

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-limits

Don't yell at us; we're volunteers

qbteachmt

Level 15

The IRA issue is from the SECURE Act. Those provisions are in place.

The EITC issue is from the ARP Act. Those provisions were temporary, so unless they are extended, they apply for 2021, only.

"ARPA also temporarily (for 2021 only) reduces the minimum age of eligibility from 25 to 19 for most workers. For students who are attending school at least part-time, the age limit is temporarily reduced from 25 to 24. For former foster children and youth who are homeless, the minimum age is temporarily reduced from 25 to 18. The bill temporarily eliminates the upper age limit, so workers aged 65 and older are eligible in 2021."

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