Roth Ira Max Contribution 2024 Limits Over 55. If you file taxes as a single person, your modified adjusted gross income (magi) must be under $153,000 for tax year 2023 and $161,000 for tax year 2024 to contribute to a roth ira, and if you're married and file. The roth ira contribution limit for 2024 is $7,000 in 2024 ($8,000 if age 50 or older).

Ira contribution limits for 2024 the limit for both traditional and roth iras is $7,000 total from among all accounts, a $500 increase from the $6,500 limit in 2023. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.