2024 Roth Ira Contribution Limits Magi Income. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're age 50 or older. Those limits reflect an increase of $500 over the 2023.

Depending on your magi, filing status, and earned income, you may be able to make the federal maximum contribution to your roth ira ($7,000 for those under 50; Find out if your modified adjusted gross income (agi ) affects your roth ira contributions.