2024 401k Contribution Limits Chart Married Filing Jointly. Employers can contribute to employee. 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.
If your filing status is married filing jointly or separately if neither you nor your spouse is covered by a retirement plan at work, thereโs no income limit. The income limit for taking a full deduction for your contribution to a traditional ira while participating in a workplace retirement plan in 2024 is $77,000 for single filers and $123,000 for a.