Roth Contribution Limits 2024 And Magi. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000. 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 file.
In 2024, these limits are $7,000, or $8,000 if you’re 50 or older. 2024 ira contribution and deduction limits effect of modified agi on deductible contributions if you are covered by a retirement plan at work.