Roth Ira Income Limits 2024 Joint Account. Here's how a roth ira works. You can make the maximum possible contribution if you're single with a modified.

The contribution limit for a roth ira is $6,500 (or $7,500 if you are over 50) in 2023. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older.