2024 Roth Ira Limits 2024 Over 50

2024 Roth Ira Limits 2024 Over 50. Those over 50 can still contribute up to $1,000 more in 2024, meaning that the limit is now $8,000. Your personal roth ira contribution limit, or eligibility to contribute at all, is dictated by your income level.

The roth ira contribution limits for 2023 were $6,500 or your taxable income, whichever was lower. 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 must be under $228,000 for tax year 2023 and $240,000 for tax year 2024.