Roth IRA Contribution Limits (Tax year 2024) Single Filers (MAGI)Married Filing Jointly (MAGI)Married Filing Separately (MAGI)Maximum Contribution for individuals under age 50Maximum Contribution for individuals age 50 and older under $146,000under $230,000$0$7,000$8,000 ...
2025 Roth IRA income limits Filing status Roth IRA income limits 2025 Roth IRA contribution limits 2025 Single, head of household, or married filing separately (if you didn't live with spouse during year) Less than $150,000. $7,000 ($8,000 if 50 or older). $150,000 or more, but ...
Roth IRA income requirements for 2024 Filing statusModified adjusted gross income (MAGI)Contribution limit Single individuals < $146,000 $7,000 ≥ $146,000 but < $161,000 Partial contribution ≥ $161,000 Not eligible Married (filing joint returns) < $230,000 $7,000 ≥ $230,000 but < ...
If your status is Married Filing Separately you are effectively locked out due to an extremely restrictive limit. (The rationale: the government doesn't want to give you a tax break in case your spouse is high-income. The exception: if you and your spouse lived apart for the whole year,...
Roth IRA income requirements 2024 Filing status Modified adjusted gross income (MAGI) Contribution limit Single individuals < $146,000 $7,000 ≥ $146,000 but < $161,000 Partial contribution (calculate) ≥ $161,000 Not eligible Married (filing joint returns) < $230,000 $7,000 ≥ $230,000...
Roth IRA contributions have limits based on your income. Learn about the 2025 eligibility requirements and how to make the most of your Roth IRA.
single, head of household, or married filing separately and you did not live with your spouse at any time during the year2023: $153,000 or more 2024: $161,000 or morezero Source: IRS.gov Roth contribution limits for2023and2024 How much of a traditional IRA deduction are you allowed to...
Married Couples Filing Separately: Couples with a MAGI below $10,000 can contribute a reduced amount. Couples with a MAGI of $10,000 or more can’t contribute to a Roth IRA. Single Tax Filers: Single tax filers with a MAGI below $138,000 can contribute up to the full amount. ...
Roth IRA Contribution Eligibility Phase Out Ranges Filing Status2025 Single/Head of Household$150,000 - $165,000 Married Filing Jointly$236,000 - $246,000 Married Filing Separately$0 - $10,000 Beware of the 5-Year Rule One potential trap to be aware of is the so-called "five-year rule...
2024 Roth IRA Income Limits Filing Status2024 Modified AGIContribution Limit Married filing jointly or qualifying widow(er)Less than $230,000$7,000 ($8,000 if you’re age 50 or older) $230,000 to $240,000Reduced $240,000 or moreNot eligible ...