Roth Ira Contribution Limits 2024 Magi Limits 2024. Contribution limits are enforced across traditional iras and roth iras, but income limits only apply to roth accounts. That's up from $138,000 in 2023.

In 2024, the roth ira income limit to qualify for a roth ira is <$161,000 of modified adjusted gross income (magi) for single filers and <$240,000 for joint filers. If your magi is $77,000 or less, you can deduct that full $7,000 from your taxable income on your 2024 tax return (filed in 2025).