Dory Nanice

Roth Contribution Limits 2024 And Magi. The maximum amount you can contribute to a roth ira in 2023 is $6,500, or $7,500 if you’re age 50, or older. 12 rows 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.

Your modified adjusted gross income (magi) determines your contribution capacity to an ira, particularly for a roth ira. In 2024, you can contribute up to $7,000.