2024 Ira Income Limits Over 55. Those limits reflect an increase of $500 over the 2023. The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you're younger than age 50.
Income limits for a roth ira set the maximum earnings individuals or couples can have to qualify for contributions within a specific year. Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income.