Roth Contribution Limits 2024 Magic Quadrant. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're 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.
For 2024, the maximum amount you can contribute to a roth ira. 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.