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Roth IRA income limits: Your compensation counts

There are no income limits for a traditional IRA, but how much you earn has a direct bearing on how much you can contribute to a Roth IRA.
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Is your income OK for a Roth IRA?

Whether or not you can make the maximum Roth IRA contribution (for 2024 $7,000 annually, or $8,000 if you're age 50 or older) depends on your tax filing status and your modified adjusted gross income (MAGI).

Your contribution can be reduced or "phased out" as your MAGI approaches the upper limits of the applicable phase-out ranges listed below.

Roth IRA phase-out ranges

Filing status 2023 income range 2024 income range
Single $138,000–$153,000 $146,000–$161,000
Married, filing jointly $218,000–$228,000 $230,000–$240,000
Married, filing separately* $0–$10,000 $0–$10,000

Filing status


2023 income range


2024 income range


Filing status

Married, filing jointly

2023 income range


2024 income range


Filing status

Married, filing separately*

2022 income range


2023 income range


If your income qualifies

Your next step is to determine how much you can contribute, based on your level of income.

Visit irs.gov for phase-out details on how to calculate your contribution limit:

For 2024


You may be able to save even more with a SEP-IRA or SIMPLE IRA.

Learn more about our small-business retirement plans

If your income doesn't qualify

If you still want to open a Roth IRA, a "backdoor" path could be your solution.

We're here to help

Have questions? Contact us. 

Open your IRA today

*If you and your spouse didn't live together during the taxable year, your filing status will be viewed as "single" for Roth IRA contribution purposes.

You may wish to consult a tax advisor about your situation.

When taking withdrawals from an IRA before age 59½, you may have to pay ordinary income tax plus a 10% federal penalty tax.