Roth Ira Contribution Limits 2024 Calculator Fidelity

Roth Ira Contribution Limits 2024 Calculator Fidelity. Below is a guide to understanding roth ira contribution limits for 2024 and 2025, and why roth conversions may still be a smart choice for boomers and zoomers alike. If you have a traditional ira, a roth ira―or both―the maximum combined amount you may contribute annually across all your iras is the same:

If you file taxes as a single person, your modified adjusted gross income (magi) must be under $153,000 for tax year 2023 and $161,000 for tax year 2024 to contribute to a roth ira, and if. As a couple, you can contribute a combined total of $14,000 (if you’re both under 50) or $16,000 (if you’re both 50 or older) to a traditional ira for 2024.