2024 Ira Contribution Limits Estimated Income. 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 2024 tax year was $7,000 or $8,000 if you were age 50 or older.

Uncover details about the 2024 ira contribution limits to plan your retirement savings efficiently. 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).