Roth Ira Limits 2024 Salary Cap. If you have a traditional ira, a roth ira―or both―the maximum combined amount you may contribute annually across all your iras. Those are the caps even if you make more, up to the phaseout level.

The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024. 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.