How Much Can I Contribute To My Roth Ira 2024 Without Penalty. The contribution limit for a roth ira is $7,000 (or $8,000 if you are over 50) in 2024. 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 income limits for contributing to a roth ira can change from year to year. 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.