Roth Contribution Limits 2024 Income Statement

Roth Contribution Limits 2024 Income Statement. 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. In 2024, the roth ira contribution limit is $7,000, or $8,000 for individuals age 50 and older, allowing those who are closer to retirement to make additional contributions.

Roth ira contribution limits are reduced or eliminated at higher incomes. These rules cover contribution limits, income limits, and how you can withdraw your money.