2024 Roth Ira Contribution Limits Income Tax Return

2024 Roth Ira Contribution Limits Income Tax Return. The annual roth ira contribution limit in 2023 is $6,500 for adults younger than 50 and $7,500 for adults 50 and older. The same combined contribution limit.

In 2024, this increases to $7,000 or $8,000 if you’re age 50+. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.