Roth Ira Contribution Limits 2024 Magi Limit 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. This table shows whether your contribution to a roth ira is affected by the amount of your modified agi as computed for roth ira purpose.

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. Contribute the maximum roth ira amount: