What you can contribute each year

The amount you can put into a Roth IRA each year is set by the IRS and changes periodically. For 2024, the limit is $7,000 per year if you are under 50, and $8,000 per year if you are 50 or older. For 2025, those limits remain the same. These are the maximums across all your IRAs combined — if you have both a Roth IRA and a traditional IRA, your contributions to both count toward the same annual ceiling.

The IRS adjusts these limits every few years when inflation reaches a certain threshold. The next adjustment will happen when the cost-of-living increase warrants it. You do not have to contribute the full amount — you can put in less, or nothing at all in a given year.

You have until the tax filing deadline (usually April 15 of the following year) to make a contribution for the prior year. For example, you can contribute to your 2024 Roth IRA through April 15, 2025. This deadline applies even if you file for an extension on your taxes.

Key Takeaways

  • The 2024 and 2025 contribution limit is $7,000 per year for people under 50, and $8,000 for people 50 and older.
  • Your contribution limit applies to all IRAs you own combined, not per account, so contributions to a Roth IRA and a traditional IRA count toward the same annual total.
  • You can contribute less than the limit, or nothing at all, in any given year.
  • You have until the tax filing deadline of the following year to make a contribution for a prior tax year.
  • Income limits determine whether you can contribute the full amount, a reduced amount, or nothing at all, depending on your filing status and modified adjusted gross income.

How income limits affect your contribution amount

Even if you are under the age limit, your income may reduce or eliminate your ability to contribute. The IRS sets income thresholds based on your filing status and your modified adjusted gross income (MAGI). If your income falls within a certain range, you can contribute a partial amount. If your income exceeds the upper limit, you cannot contribute to a Roth IRA that year.

For 2024, if you file as single, the income range is $146,000 to $161,000. If you file as married filing jointly, the range is $230,000 to $240,000. If you file as married filing separately, the range is $0 to $10,000. For 2025, these ranges shift slightly: single filers see $146,000 to $161,000 (unchanged), married filing jointly see $230,000 to $240,000 (unchanged), and married filing separately remains $0 to $10,000.

If your income is below the lower threshold, you can contribute the full amount. If your income falls within the range, you calculate a reduced contribution using an IRS worksheet. If your income exceeds the upper threshold, you cannot contribute that year. Your tax return or a tax professional can help you determine your MAGI, since it differs from your standard adjusted gross income.

Catch-up contributions for people 50 and older

If you are 50 or older, you can make an additional catch-up contribution of $1,000 per year beyond the standard limit. This means your total contribution room for 2024 and 2025 is $8,000 instead of $7,000. You must actually be 50 by December 31 of the tax year to make the catch-up contribution for that year.

The catch-up contribution is subject to the same income limits as regular contributions. If your income is too high to contribute the full standard amount, the catch-up portion is also reduced or eliminated. You do not have to make the catch-up contribution — it is optional, just like the regular contribution.

What happens if you contribute too much

If you put more money into your Roth IRA than the limit allows, the IRS treats the excess as an overcontribution. You will owe a 6% excise tax on the excess amount for each year it remains in the account. The tax is filed on Form 5329 with your annual tax return.

To fix an overcontribution, you can withdraw the excess amount plus any earnings it generated before the tax filing deadline. If you do this in time, you avoid the 6% penalty. If you do not withdraw it, the penalty applies each year until the excess is removed. A tax professional or your IRA custodian can help you calculate the exact amount to withdraw.

Spousal Roth IRA contributions

If you are married and file jointly, your spouse can have their own Roth IRA even if they do not have earned income. A spousal Roth IRA lets a non-working spouse contribute up to the annual limit, as long as the working spouse has enough earned income to cover both contributions. The household's combined contribution limit is still based on the working spouse's income.

For example, if you earn $100,000 and your spouse has no income, you can contribute $7,000 to your own Roth IRA and $7,000 to a spousal Roth IRA for your spouse in 2024, for a total of $14,000. Your spouse's contribution is still subject to the income limits based on your household's MAGI. A spousal Roth IRA is a separate account with its own custodian and investment choices.

Contribution deadlines and timing

You can contribute to a Roth IRA at any time during the tax year or up until the tax filing deadline of the following year. Many people contribute in January to maximize the time their money has to grow, but there is no requirement to do so. You can make contributions in a lump sum or spread them throughout the year.

If you miss the deadline to contribute for a prior year, that contribution room is gone — the IRS does not allow you to make it up in a later year. However, you can always contribute to the current year's limit. Some custodians allow automatic monthly contributions, which can help you stay on track without having to remember a single deadline.

Frequently Asked Questions

Can I contribute to a Roth IRA if I have no income?

No, unless you are married and your spouse has earned income. You must have earned income (wages, self-employment income, or certain other sources) in the year you want to contribute. A non-working spouse can contribute through a spousal Roth IRA if the working spouse has enough income to cover both contributions.

What counts as earned income for Roth IRA purposes?

Earned income includes wages from a job, self-employment income, and taxable alimony or spousal support. It does not include investment income, Social Security, pensions, or rental income. Your tax return shows your earned income, and your IRA custodian may ask you to verify it when you open an account.

If I contribute too much, do I have to pay the 6% tax every year?

Yes, the 6% excise tax applies each year the overcontribution sits in your account. If you contributed $8,000 when the limit was $7,000, you owe 6% on that $1,000 for each year until you withdraw it. Withdrawing the excess plus earnings before the tax deadline stops the penalty from applying in future years.

Can I carry over unused contribution room to next year?

No. If you do not contribute the full amount in a given year, that room does not roll forward. Each year has its own contribution limit. However, you can always contribute to the current year's limit, and you have until the following year's tax deadline to do so.

Do employer contributions count toward my Roth IRA limit?

No. If your employer offers a Roth 401(k) or similar plan, those contributions are separate from your Roth IRA limit. Your Roth IRA limit applies only to money you contribute directly to the Roth IRA account. Employer contributions to a workplace plan do not reduce your Roth IRA contribution room.