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First, let’s see if you qualify for a Traditonal or Roth IRA. Annual contributions to both accounts are the same in 2016 as in 2015 -- up to $5,500 per person, or $6,500 for individuals who are 50 or older. You may earn too much to fund a Roth, because they're available only to individuals whose modified adjusted gross income doesn't exceed a maximum of $132,000 in 2016. For married couples filing a joint tax return, eligibility requirements end at $194,000. With a traditional IRA, you may be able to claim a full income-tax deduction for your contributions, as long as you don't have access to a retirement plan at work, such as a 401(k). Single filers who do have access to such a plan can take a full deduction if they earn $61,000 or less, or a partial deduction up to $71,000 in 2016. The income limits are trickier for married couples filing jointly. If you have access to a plan, the limits are $98,000 to $118,000; if your spouse has access to a plan but you do not, the limits are $184,000 to $194,000 for join