2024 Roth Ira Income Limits Increase. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) in 2024. You may contribute simultaneously to a traditional ira and a roth ira (subject to eligibility) as long as the total contributed to all (traditional or roth) iras totals no more than.
Your modified adjusted gross income (magi) must be under $161,000 for tax year 2024 to contribute to a roth ira. Make the most of bigger contribution limits and wider tax brackets.