2024 Roth Ira Contribution Income Limits. โ the contribution limit for a roth ira is $7,000 (or $8,000 if you are over 50) in 2024. If you are 50 and older, you can contribute an additional $1,000 for a total of $8,000.
Anyone can contribute to a traditional ira, but your ability to deduct contributions. $6,500 (for 2023) and $7,000 (for 2024) if you’re under age 50.