Rita Verina

Roth Ira Contribution Income Limits 2024. The roth ira income limits will increase in 2024. For 2024, the ira contribution limit is $7,000 for those under 50, while the 401(k) deferral limit is $23,000 for this age group.

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. You can make contributions to your roth ira after you reach age 70 ½.