2024 Ira Limit. 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. The roth ira contribution limit for 2024 is $7,000 for those under 50, and $8,000 for those 50 and older.
Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older). What are the 2024 ira contribution limits?