Income Limits For Roth Ira Contributions 2024 Single

Income Limits For Roth Ira Contributions 2024 Single. Single, head of household and married filing separately (didn’t live with a spouse in 2022) These same limits apply to traditional iras.

The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000. 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 must be under $228,000 for tax year 2023 and $240,000 for tax year 2024.