2024 Roth Ira Limits Income Limit. For the 2024 tax year, the irs allows up. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) in 2024.
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 youโre married and filing. Contribution limits are enforced across traditional iras and roth iras, but income limits only apply to roth.