Roth Ira Contribution Limits 2024 Magi Limit

Roth Ira Contribution Limits 2024 Magi Limit. You are allowed to contribute the full $7,000 to your roth ira if your modified adjusted gross income (magi) is less than $146,000 in 2024. 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.

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. The annual roth ira contribution limit in 2023 is $6,500 for adults younger than 50 and $7,500 for adults 50 and older.