Roth Ira Limits 2024 Over 50. 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. For 2024, your roth ira contribution limit is reduced (phased out) in the following situations.

The annual roth ira contribution limit in 2023 is $6,500 for adults younger than 50 and $7,500 for adults 50 and older. The roth ira contribution limits in 2024 were raised to $7,000, or $8,000 for taxpayers 50 and older.