How much you can contribute each year

The maximum 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 if you are under 50 years old, and $8,000 if you are 50 or older. For 2025, the limit increases to $7,500 for those under 50, and $8,500 for those 50 and older. These limits apply to the total you contribute across all Roth IRAs you own — if you have multiple accounts, you cannot exceed the annual maximum by splitting contributions between them.

The IRS raises these limits every few years when inflation reaches a certain threshold, usually in $500 increments. The next increase will happen only if inflation warrants it. You do not have to contribute the full amount; you can contribute less or nothing in any given year.

Key Takeaways

  • The 2024 contribution limit is $7,000 under age 50 and $8,000 at age 50 or older; for 2025 it rises to $7,500 and $8,500 respectively.
  • The limit applies to your total contributions across all Roth IRAs you own, not per account.
  • You can contribute less than the maximum in any year without penalty.
  • Contribution limits are separate from income limits — you must also meet income thresholds to contribute to a Roth IRA at all.

Income limits that affect your ability to contribute

Even if you have money to contribute, the IRS restricts who can put money into a Roth IRA based on your income. The income limits depend on your filing status and change each year. For 2024, if you file as single, you can contribute the full amount if your modified adjusted gross income (MAGI) is below $146,000; the ability to contribute phases out between $146,000 and $161,000, and you cannot contribute at all above $161,000. If you are married filing jointly, the phase-out range is $230,000 to $240,000.

For 2025, these thresholds increase slightly: single filers can contribute fully up to $161,000, with phase-out between $161,000 and $176,000. Married filing jointly can contribute fully up to $245,000, with phase-out between $245,000 and $255,000. If your income falls in the phase-out range, you can contribute a reduced amount — the IRS provides a worksheet to calculate it, or your tax preparer can figure it for you.

When you can make contributions and catch-up rules

You can contribute to a Roth IRA for a given tax year anytime from January 1 of that year through the tax filing deadline the following year, usually April 15. For example, you can contribute to your 2024 Roth IRA through April 15, 2025. This extended deadline gives you time to save money or wait for your tax refund before funding the account.

If you are 50 or older, you are allowed an additional catch-up contribution of $1,000 per year (for both 2024 and 2025). This is on top of the regular limit, so a 50-year-old can contribute $8,000 in 2024 and $8,500 in 2025. The catch-up contribution has no separate income limit — if you can contribute the regular amount, you can make the catch-up contribution too.

What happens if you contribute too much

If you put more than the annual limit into your Roth IRA, the IRS treats the excess as an excess contribution. You will owe a 6% excise tax on the excess amount for each year it remains in the account. For example, if you contribute $8,000 when the limit is $7,000, you owe 6% tax on the $1,000 excess in that year. If you do not remove the excess by the tax filing deadline, you owe another 6% the following year.

To fix an excess contribution, you must withdraw the excess amount plus any earnings it generated before your tax return deadline (including extensions). If you withdraw it in time, you avoid the 6% penalty, though you will owe income tax on any earnings the excess generated. If you discover an excess contribution after the deadline has passed, file Form 5329 with the IRS to report it and pay the penalty.

Contributions from spousal income

If you are married and one spouse has little or no income, the spouse with income can fund a spousal Roth IRA for the non-earning spouse. Each spouse gets their own contribution limit based on their age. For example, in 2024, if one spouse earns $20,000 and the other earns nothing, the earning spouse can contribute up to $7,000 to their own Roth IRA and up to $7,000 to a spousal Roth IRA for the non-earning spouse, for a total of $14,000 combined. The only requirement is that your combined household income must be at least equal to the total contributions you make.

Each spouse must have their own separate Roth IRA account. You cannot contribute to one account and call it a spousal contribution; the IRS requires separate accounts with separate Social Security numbers.

Rollovers and transfers do not count toward the limit

If you move money from another retirement account into a Roth IRA through a rollover or transfer, that money does not count toward your annual contribution limit. You can roll over as much as you want from a traditional IRA, SEP IRA, SIMPLE IRA, or may be able to access employer plan (like a 401(k)) without hitting the $7,000 or $7,500 cap. The contribution limit applies only to money you earn and choose to set aside for retirement savings, not to money you move between accounts you already own.

Rollovers do have their own rules — for instance, you can do only one rollover from a traditional IRA to a Roth IRA per 12-month period — but the annual contribution limit is not one of them. This is why rollovers are a common way for higher-income earners to fund a Roth IRA when they exceed the income limits for direct contributions.

Frequently Asked Questions

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

No, unless you are married and your spouse has income. You must have earned income (from a job or self-employment) in the year you want to contribute. If you are married, your spouse can fund a spousal Roth IRA for you using their income, as long as your combined household income is at least equal to what you contribute.

What if I turn 50 partway through the year?

You can make the catch-up contribution for any year in which you turn 50 at any point during that year. You do not have to wait until your birthday. If you turn 50 on December 31, 2024, you can contribute $8,000 (the full amount plus catch-up) for 2024.

Do employer contributions count toward my Roth IRA limit?

No. The annual limit applies only to contributions you make yourself. If your employer offers a Roth 401(k) or Roth 403(b), contributions to that plan have their own separate limit and do not reduce how much you can contribute to a Roth IRA. However, if you have a SEP IRA or SIMPLE IRA through self-employment or a small business, those limits are separate from your Roth IRA limit.

Can I contribute to a Roth IRA and a traditional IRA in the same year?

Yes, but your combined contributions to both accounts cannot exceed the annual limit. If you contribute $4,000 to a traditional IRA in 2024, you can contribute only $3,000 to a Roth IRA that year (assuming you are under 50). The limit is shared across all IRAs you own.