Ira Limits 2024 Roth And Traditional. Roth ira rules dictate that as long as you've owned your account for 5 years**. 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.

You cannot deduct contributions to a roth ira. For 2024, you can contribute $7,000 across all of your iras, including any iras outside of public, and including total.