Ira Limits 2024 Roth Conversion. The roth ira contribution limit for 2024 is $7,000 in 2024 ($8,000 if age 50 or older). For the 2023 tax year, the maximum contribution to a traditional or roth ira is the lesser of (a) your taxable compensation for 2023, or (b) $6,500 (or $7,500 if you are age 50 or older at any time during the calendar year).

If you’re a single filer, you’re eligible to contribute a portion of the full amount if your magi is $146,000 or. A backdoor roth ira is a completely legal strategy to avoid a roth ira’s income limits.