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Roth Ira Contribution Limits 2024 Income Limits. You can make a contribution to your ira by having your income tax refund (or a portion of your refund), if any, paid directly to your traditional ira, roth ira, or sep ira. In 2024, the roth ira contribution limit is $7,000, or $8,000 for individuals age 50 and older, allowing those who are closer to retirement to make additional contributions.
Contribution limits are enforced across traditional iras and roth iras, but income limits only apply to roth. You can make contributions to your roth ira after you reach age 70 ½.
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