Roth Ira Contribution Limits 2024 Magi Limit In India

Roth Ira Contribution Limits 2024 Magi Limit In India. For 2024, the maximum contribution limit for a roth ira is $7,000 for individuals under the age of 50. 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 you’re married and filing.

Those are the caps even if you make more, up to the phaseout level. To be eligible to contribute the maximum amount in 2024, your modified adjusted gross income (magi) must be less than $146,000 (up from $138,000 last year) if single or between $230,000 and.