Roth Contribution Limits 2024 Magi. If your magi is $77,000 or less, you can deduct that full $7,000 from your taxable income on your 2024 tax return (filed in 2025). If you're age 50 and older, you can add an extra $1,000 per.
At certain incomes, the contribution amount is lowered until it is eliminated completely. The amount you can contribute to a roth ira depends on your modified adjusted gross income (magi).