Income Limits For Roth Ira Contributions 2024 Over 50. 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 filing. In 2024, the roth ira contribution limit is $7,000, or $8,000 for individuals age 50 and older, allowing those who are closer to retirement to make additional contributions.
The roth ira income limits will increase in 2024. The contribution limit to a roth ira for anyone below the age of 50 is $7,000 in 2024.
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