Ira Contribution Limits 2024 Chart Roth. The chart below details the modified adjusted gross income. If you file taxes as a single person, your modified adjusted gross income (magi) must be under $153,000 for tax year 2023 and $161,000 for tax year 2024 to contribute to a roth ira, and if you’re married and filing jointly, your magi.

If an individual under age 50 deposits $3,000 in one roth ira during the tax year 2024, then that individual can only contribute $4,000 to another ira in that tax year, making. Given your income and the amount you’re looking to set aside, schamis says, the differences in contribution limits between a roth ira and a 401(k) won’t come into play since.