Magi Limits Roth Ira 2024. — the limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older. The maximum amount you can contribute to a roth ira in 2023 is $6,500, or $7,500 if you’re age 50, or older.
— the 2024 roth ira income limits are $161,000 for single tax filers and $240,000 for those married filing jointly. — you are allowed to contribute the full $7,000 to your roth ira if your modified adjusted gross income (magi) is less than $146,000 in 2024.