Magi Roth Limits 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. The annual roth ira contribution limit in 2023 is $6,500 for adults younger than 50 and $7,500 for adults 50 and older.
For 2024, the maximum contribution limit for a roth ira is $7,000 for individuals under the age of 50. You’re allowed to invest $7,000 (or $8,000 if you’re 50 or older) in 2024.