IRA Deduction Limits refer to the rules that determine how much of your contribution to a Traditional IRA you can deduct from your taxable income each year. Whether you can take a full, partial, or no deduction depends on your income, tax filing status, and whether you or your spouse are covered by a workplace retirement plan. These limits are set by the IRS and can change from year to year. Even if you can’t deduct your contribution, you may still be able to put money into a Traditional IRA and benefit from tax-deferred growth, or consider contributing to a Roth IRA if you’re eligible.