Roth Ira Limits 2024 Income Tax

Roth Ira Limits 2024 Income Tax. You’re allowed to increase that to $7,500 ($8,000 in 2024) if you’re age 50 or older. Contribute the maximum roth ira amount:

In 2024, the contribution limit for a roth ira is $7,000, plus an additional contribution of $1,000 if you are age 50 or older. For 2023, the maximum amount you can contribute to a roth ira is $6,500 ($7,000 in 2023).