Roth Ira 2024 Limit Contribution Over 50

Roth Ira 2024 Limit Contribution Over 50. 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. So people 50 and older can invest $30,500.

The ira contribution limits for 2024 are $7,000 for those under age 50, and $8,000 for those age 50 or older. The most you can contribute to a 401 (k) in 2024 is.