Roth Ira Income Limits 2024 American Funds. Whether or not you can make the maximum roth ira contribution (for 2024 $7,000 annually, or $8,000 if you're age 50 or older) depends on your tax filing status and your modified adjusted gross income (magi). You (or your spouse if filing a joint return) can contribute if you have taxable compensation and your income level is under certain limits.
Your personal roth ira contribution limit, or eligibility to contribute at all, is dictated by your income level. If youโre 50 or older, you can contribute even moreโup to $8,000 in 2024.