Roth Contribution Limits 2024 Magi Income
Roth Contribution Limits 2024 Magi Income. The roth ira contribution limit for 2024 is $7,000 for those under 50, and $8,000 for those 50 and older. To be eligible to contribute the maximum amount in 2024, your modified adjusted gross income (magi) must be less than $146,000 (up from $138,000 last year) if single or between $230,000 and.
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. Anyone can contribute to a traditional ira, but your ability to deduct contributions.
