Roth Income Limits 2024 Married Filing Joint Return

Roth Income Limits 2024 Married Filing Joint Return. 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. The contribution limit for a roth ira is $7,000 (or $8,000 if you are over 50) in 2024.

In 2025, the excess taxable income above which the 28% tax rate applies will likely be $119,550 for married taxpayers filing separate returns and $239,100 for all. If your 2024 modified adjusted gross income (modified agi) is greater than $146,000 for single taxpayers, or $230,000 if you’re married and filing jointly, your 2024.