Roth Ira Contribution Limits 2024 Income Tax Act.  — for 2024, the maximum contribution limit for a roth ira is $7,000 for individuals under the age of 50.  — the irs puts annual income limits on 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 you’re married and filing jointly, your magi. For example, single filers and heads of household face specific magi thresholds which, if met.