Roth Ira Limits 2024 Fidelity Limit

Roth Ira Limits 2024 Fidelity Limit. Those are the caps even if you make more, up to the phaseout level. 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 must be under $228,000 for tax year 2023 and $240,000 for tax year 2024.

The amount you can contribute to a roth ira depends on your modified adjusted gross income. If you are under age 50, you may contribute $7,000 a year.