Roth Ira Limit 2024. The maximum amount you can contribute to a roth ira in 2023 is $6,500, or $7,500 if you’re age 50, or older. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) 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. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older.