Roth Contribution For 2024. You cannot deduct contributions to a roth ira. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) in 2024.

The most you may contribute to your roth and traditional iras for the 2023 tax year is: For most individuals, the roth ira contribution limit in 2024 is the smaller of $7,000 or your taxable income.