Ira Income Limit For 2024. $6,500 (for 2023) and $7,000 (for 2024) if you're under age 50. Find out if you can contribute and if you make too much money for a tax deduction.

Subtract from the amount in (1): 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.