2024 Ira Contribution Amount

2024 Ira Contribution Amount. The income limit for contributing to a roth ira in 2024 kicks in once an individual’s modified adjusted gross income hits $161,000, or $240,000 for married filing. The roth ira contribution limit for 2024 is $7,000 for those under 50, and $8,000 for those 50 and older.

Ira contribution limit increased for 2024. As a couple, you can contribute a combined total of $14,000 (if you’re both under 50) or $16,000 (if you’re both 50 or older) to a traditional ira for 2024.