2024 Roth Ira Contribution Limits Income Limit. For 2024, single filers must have a modified adjusted. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're age 50 or older.

A custodial ira allows a parent or guardian to open a retirement account on behalf of child who has earned income. There are also income limits.