Ira Limits 2024 Income Limits
Ira Limits 2024 Income Limits. 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. Amount of roth ira contributions that you can make for 2024.
For both traditional and roth iras, you can contribute up to $7,000 for 2024, up from $6,500 in 2023. If you’re age 50 or older, you’re eligible for extra contributions as well.