Roth Ira Limits 2024 Phase Out Exclusions. Ira account holders can contribute up to $7,000 in 2024, which is a $500 jump over the 2023 cap. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.
These ranges vary based on your tax filing status. The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you’re younger than age 50.