Ira Income Limits 2024 Married Jointly. Anyone with an earned income and their spouses, if married and filing jointly, can contribute to a traditional ira. In 2024, the income limit for the credit increased to $76,500 for married couples filing jointly, up from $73,000 in 2023.

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. Those are the caps even if you make more, up to the phaseout level.