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Tax Filing Status. 2024 MAGI. ... Contribution limits for Roth IRAs in 2025. ... 2024 MAGI. 2025 MAGI. Roth IRA Contribution. Single individuals. $146,000 or less. $150,000 or less.
The deadline for 2024 IRA contributions. The IRS lets you make 2024 IRA contributions until the tax deadline -- April 15, 2025. This is the deadline even if you request an extension to file your ...
The good news for savers is that the income limits are climbing for IRAs. 2024 IRA contribution and income limits: What retirement savers need to know Skip to main content
Contribution limits for Roth IRAs are $7,000 in 2024. The Roth IRA five-year rule says you cannot withdraw earnings tax-free until it’s been at least five years since you first contributed to a ...
Your modified adjusted gross income (MAGI) must be under $161,000 for tax year 2024 to contribute to a Roth IRA. If your MAGI is less than $146,000, you can contribute the full $7,000.
IRA contribution limits will not increase in 2025; they remain at $7,000. If you’re over 50, you qualify for an additional $1,000 catch-up, giving you a total contribution of $8,000 in 2024 or 2025.