Barrie Miguelita

2024 Roth Ira Limits 2024 Over 55. You’re allowed to increase that to $7,500 ($8,000 in 2024) if you’re age 50 or older. Contribution limits are enforced across traditional iras and roth iras, but income limits only apply to roth accounts.

If you’re a single filer, you’re eligible to contribute a portion of the full amount if your magi is $146,000 or more, but less than $161,000. If you’ve already made contributions for the year, you must take corrective action to avoid penalties.