Roth Ira Salary Limit 2024 Income Limit

Roth Ira Salary Limit 2024 Income Limit. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 and 2025 tax years is $7,000 or $8,000 if you are age 50 or older. 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 jointly, your magi.

Your roth ira contribution limit depends on your tax filing status and your modified adjusted gross income (magi). For 2024, the roth ira contribution limits are going up $500.