Maximum Roth Ira Contribution 2024 Calculator. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older. You can make a contribution to your ira by having your income tax refund (or a portion of your refund), if any, paid directly to your traditional ira, roth ira, or sep ira.

The account or annuity must be. There is no tax deduction for contributions made to a roth ira,.