Ira Income Limits 2024. If you are age 50 or older, you may contribute $8,000. For 2024, single filers must have a modified adjusted gross income (magi) of less than $146,000, and joint filers less than $230,000,.

Contribution limits are enforced across traditional iras and roth iras, but income limits only apply to roth accounts. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.