Roth Ira Limits 2024. The income ranges for determining eligibility to make deductible contributions to traditional individual retirement arrangements (iras), to contribute to roth iras, and to claim the saver's credit all increased for 2024. A roth ira is an ira that, except as explained below, is subject to the rules that apply to a traditional ira.
The income ranges for determining eligibility to make deductible contributions to traditional individual retirement arrangements (iras), to contribute to roth iras, and to claim the saver’s credit all increased for 2024. In 2024, the roth ira contribution limit is $7,000, or $8,000 for individuals age 50 and older, allowing those who are closer to retirement to make additional contributions.