|Traditional IRA Future Value Calculator|
|Tax year beginning in||Contribution limits (under age 50)||Additional catch-up contribution limits (age 50 or over)|
|2008 to 2012||$5,000||$1,000|
|2013 - 2017||$5,500||$1,000|
This calculation assumes that each contribution is fully tax deductible. If either the IRA owner or spouse participates in an employer-sponsored retirement plan, the deductibility of contributions is subject to limitations based on tax filing status and modified adjusted gross income. Withdrawals from traditional IRAs are subject to federal income tax to the extent that they consist of deductible contributions and investment earnings. Withdrawals made before age 59½ may also be subject to a 10 percent penalty.