Magi Income Limits 2024 For Roth Ira

Magi Income Limits 2024 For Roth Ira. Is your income ok for a roth ira? 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.

Depending on your magi, filing status, and earned income, you may be able to make the federal maximum contribution to your roth ira ($7,000 for those under 50; The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older.