1. The maximum amount that may be contributed to an HSA by a single individual is $3,550 and by a family is $7,100. II. Taxpayers who qualify for an income tax deduction on contributions to a traditional IRA may take that deduction as an adjustment to income. The maximum allowable contribution to a traditional IRA is $6,000 for 2020. Taxpayers age 50 and older can make an additional $1,000 catch-up contribution. Ionly II only both I and II neither I nor