IRA contribution limits

2024 and 2025
The maximum amount you can contribute annually across all of your combined IRAs (Traditional IRA, Roth IRA or both) is outlined below:

For those under 50, the contribution limit is $7,000 a year.

For those 50 and older, the contribution limit is $8,000 a year.

Roth IRA income requirements

A Roth IRA has income limits that restrict contributions for certain income ranges.

• 2025 Roth IRA income limits:
  
  The Roth IRA income limit to make a full contribution in 2025 is less than $150,000 for single filers, and less than $236,000 for those filing jointly.
  
  If you’re a single filer, you’re eligible to contribute a portion of the full amount if your MAGI is $150,000 or more, but less than $165,000. For those married filing jointly, the income range to contribute a portion of the full amount is $236,000 or more, but less than $246,000.
  
  If you’re a single filer and your MAGI is $165,000 or more, or if you’re a joint filer and your MAGI is $246,000 or more, you’re ineligible to contribute to a Roth IRA. Still, you can make contributions to a traditional IRA.

• 2024 Roth IRA income limits: 
  
  The Roth IRA income limit to make a full contribution in 2024 is less than $146,000 for single filers, and less than $230,000 for those filing jointly.
  
  If you’re a single filer, you’re eligible to contribute a portion of the full amount if your MAGI is $146,000 or more, but less than $161,000. For those married filing jointly, the income range to contribute a portion of the full amount is $230,000 or more, but less than $240,000.
  
  If you’re a single filer and your MAGI is $161,000 or more, or if you’re a joint filer and your MAGI is $240,000 or more, you’re ineligible to contribute to a Roth IRA. Still, you can make contributions to a traditional IRA.

If your income exceeds the income limits, you can still get money into your Roth IRA by doing a backdoor Roth IRA. For more information on a backdoor Roth IRAs check out this article.