Roth Ira Contribution Cap 2024. A roth ira is an ira that, except as explained below, is subject to the rules that apply to a traditional ira. In 2024, the roth ira contribution limit is $7,000, or $8,000 for individuals age 50 and older,.

The annual roth ira contribution limit in 2024 is $7,000 for adults younger than 50 and $8,000 for adults 50 and older. 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 ira, and if you’re married and filing jointly, your magi.