What Is The Roth Ira Limit For 2024 For Married Couples

What Is The Roth Ira Limit For 2024 For Married Couples. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 tax year was $7,000 or $8,000 if you were age 50 or older. The exception is if your joint income is now higher than the income limits for roth iras set by the internal revenue service (irs) for couples filing jointly:

The roth ira income limits will increase in 2024. However, married couples can use a spousal roth ira to fund two accounts, even if just one spouse.