# Maximum IRA Contributions for a 60-Year-Old in 2025 ## Step-by-Step Solution ### 1. Identify the Types of IRAs - The two most common types are: - **Traditional IRA** - **Roth IRA** ### 2. Check the 2025 Contribution Limits - For **2025**, the IRS increased IRA contribution limits. - **Standard limit:** $7,000 per year (for those under age 50) - **Catch-up contribution (age 50 or older):** Additional $1,000 ### 3. Add Catch-Up Contribution - Since the taxpayer is **60 years old** (over age 50), they are eligible for the catch-up amount. - **Total allowable contribution:** \[ \$7,000 \text{ (standard)} + \$1,000 \text{ (catch-up)} = \$8,000 \] ### 4. Other Considerations - The $8,000 is the **combined** limit for contributions to both Traditional and Roth IRAs in 2025. - The taxpayer must have earned income at least equal to the contributed amount. ## Final Answer **The maximum IRA contribution a 60-year-old eligible taxpayer may make in 2025 is $8,000.**