According to the Fidelity® Q2 2023 Retirement Analysis, Roth IRAs are now the most popular way to save for retirement outside of a workplace plan. It could be because they come with a bunch of benefits. For one, withdrawals, even on earnings, are tax-and-penalty free once you’re 59½ years old and your account meets the 5-year aging rule. But there are limitations, too: The IRS restricts who can contribute based on modified adjusted gross income (MAGI). Here are the Roth IRA income limits for 2024 and 2025, as well as how to calculate your MAGI to figure out if you qualify.
Roth IRA income limits for 2024
The Roth IRA income limit to make a full contribution in 2024 is less than $146,000 for single filers, and less than $230,000 for those filing jointly. If you’re a single filer, you’re eligible to contribute a portion of the full amount if your MAGI is $146,000 or more, but less than $161,000. For those married filing jointly, the income range to contribute a portion of the full amount is $230,000 or more, but less than $240,000. If you’re a single filer and your MAGI is $161,000 or more, or if you’re a joint filer and your MAGI is $240,000 or more, you’re ineligible to contribute to a Roth IRA. Still, you can make contributions to a traditional IRA.
Roth IRA income limits for 2025
The Roth IRA income limit to make a full contribution in 2025 is less than $150,000 for single filers, and less than $236,000 for those filing jointly. If you’re a single filer, you’re eligible to contribute a portion of the full amount if your MAGI is $150,000 or more, but less than $165,000. For those married filing jointly, the income range to contribute a portion of the full amount is $236,000 or more, but less than $246,000. If you’re a single filer and your MAGI is $165,000 or more, or if you’re a joint filer and your MAGI is $246,000 or more, you’re ineligible to contribute to a Roth IRA. Still, you can make contributions to a traditional IRA.
How to calculate MAGI
To calculate your MAGI to determine your Roth IRA eligibility to contribute, first you need to know your gross annual income. That’s every penny you earned—and if you’re married filing jointly, that your spouse earned, too. Then you subtract tax credits, adjustments, and deductions. That gives you your adjusted gross income, or AGI. To get your MAGI, you need to add back some of those credits, adjustments, and deductions. These add-backs include but aren’t limited to: student loan interest deduction, foreign earned income and housing exclusions, and foreign housing deduction. For many filers, MAGI and AGI will be close, if not the same. If you are interested in more information around calculating your MAGI, check out IRS Pub. 550 Worksheet 2-1.
Calculating MAGI can be tricky, so consult a tax pro if you’re unsure about your eligibility to contribute to a Roth IRA. Once you know your MAGI, you could use Fidelity’s IRA contribution calculator to figure out how much you can contribute to a Roth IRA. Just keep in mind: Even if your gross income is higher than the limit, your MAGI may be lower than the limit, and you may still be able to contribute.
How much can you contribute to a Roth IRA?
Each year, the IRS sets a contribution limit for your Roth IRA. You could contribute up to the full contribution limit, or up to 100% of your income, whichever is less. You have up until the federal tax deadline in the following calendar year to contribute to your Roth IRA.
| Roth IRA income requirements for 2024 | |||
|---|---|---|---|
| Filing status | Modified adjusted gross income (MAGI) | Contribution limit (if under age 50) | Contribution limit (if age 50 or older) |
| Single individuals | < $146,000 | $7,000 | $8,000 |
| ≥ $146,000 but < $161,000 | Partial contribution (calculate) | Partial contribution (calculate) | |
| ≥ $161,000 | Not eligible | Not eligible | |
| Married (filing joint returns) | < $230,000 | $7,000 | $8,000 |
| ≥ $230,000 but < $240,000 | Partial contribution (calculate) | Partial contribution (calculate) | |
| ≥ $240,000 | Not eligible | Not eligible | |
| Married (filing separately)1 | < $10,000 | Partial contribution (calculate) | Partial contribution (calculate) |
| ≥ $10,000 | Not eligible | Not eligible | |
Source: "401(k) limit increases to $23,000 for 2024, IRA limit rises to $7,000," Internal Revenue Service, November 2023.
| Roth IRA income requirements for 2025 | |||
|---|---|---|---|
| Filing status | Modified adjusted gross income (MAGI) | Contribution limit (if under age 50) | Contribution limit (if age 50 or older) |
| Single individuals | < $150,000 | $7,000 | $8,000 |
| ≥ $150,000 but < $165,000 | Partial contribution (calculate) | Partial contribution (calculate) | |
| ≥ $165,000 | Not eligible | Not eligible | |
| Married (filing joint returns) | < $236,000 | $7,000 | $8,000 |
| ≥ $236,000 but < $246,000 | Partial contribution (calculate) | Partial contribution (calculate) | |
| ≥ $246,000 | Not eligible | Not eligible | |
| Married (filing separately)1 | < $10,000 | Partial contribution (calculate) | Partial contribution (calculate) |
| ≥ $10,000 | Not eligible | Not eligible | |
Source: "401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000," Internal Revenue Service, November 2024.
Can you still contribute to a Roth IRA if you’re over the income limit?
If you’re ineligible to contribute to a Roth IRA because you earn too much, you still have options to save for retirement in a tax-advantaged way. Similar to a Roth IRA, you could contribute to a traditional IRA up to the full contribution limit (which is the same as Roth IRA contribution limits), or up to 100% of your income, whichever is less.
Depending on whether you have access to a retirement plan at work, your income may mean you can’t deduct your contributions to a traditional IRA from your taxable income, but that doesn’t mean contributing to a traditional IRA isn’t worth your while. You’ll still benefit from tax-deferred investment growth. What’s that? You only get taxed when you withdraw earnings on your post-tax contributions, and if your income is lower in retirement, your tax rate might be lower than it is now, so the taxes you pay on those withdrawals would be lower, too. You could also consider a Roth conversion—a strategy of converting nondeductible contributions in a traditional IRA to a Roth IRA—if you’re interested in potentially tax-free withdrawals in retirement.
If you want to benefit from similar tax advantages as a Roth IRA but can’t contribute because of Roth IRA eligibility rules, you could see if your employer offers a Roth 401(k). A Roth 401(k) is a hybrid of a Roth IRA and 401(k), but has no income limits. You make post-tax contributions, and any earnings grow potentially tax-free2—just like a Roth IRA. Unlike a Roth IRA, contributions are made via payroll deduction, like a standard 401(k), and you could be eligible for an employer match on your contributions. Plus, a Roth 401(k) has a higher contribution limit than a Roth IRA, so you could stash up to $23,500 (or $31,000 if you’re age 50 to 59 or age 64 or older. If you're age 60 to 63 that number is $34,750) in individual contributions in a Roth 401(k) in 2025. For all these reasons, if you have access to a Roth 401(k), you may want to consider contributing to that first before you contribute to any IRA. Read more on the differences between a Roth IRA and a Roth 401(k).
What happens if you contribute too much to a Roth IRA?
If you accidentally contributed too much to your Roth IRA or contributed when you were ineligible, you have until your tax filing deadline (extensions included) to correct the issue. To avoid any potential tax penalties, you should remove all excess contributions and any investment earnings. Those earnings will have to be reported as income on your tax return, and you must pay any applicable taxes. If you only noticed you overcontributed after your tax filing deadline, you can file an amended tax return to fix your mistake. You may still be on the hook to pay a 6% penalty on excess contributions each year until you’ve removed that money from the account. For more information on tax penalties for IRA overcontributions, visit the IRS website.
If you contributed to your Roth IRA but weren’t supposed to because your MAGI is too high, you could recharacterize your Roth IRA contributions to a traditional IRA. Your total contributions to a Roth IRA and a traditional IRAs can’t exceed the individual limit, so check that any recharacterized contributions don’t push you over the contribution threshold.
Another option if you overcontributed to your Roth IRA: You could apply your excess contributions to the next tax year. Make sure that your rollover amount won’t exceed the next year’s contribution limits, and that your future income won’t make you ineligible to contribute.
How to open a Roth IRA
Ready for tax-free retirement savings? Opening a Roth IRA only takes a few steps.
- Find a broker-dealer or investment company
Before opening any account, fully research fees and investment options for Roth IRAs at different broker-dealers and investment companies. Also consider convenience. Some brokerages, like Fidelity, let you open a Roth IRA entirely online.
- Fund your Roth IRA
Once you’ve opened your Roth IRA, it’s time to start contributing. Some people add money to their Roth IRA every month via recurring transfers from their bank account. Others contribute a lump sum when preparing their taxes and calculating their MAGI to ensure their Roth IRA eligibility.
- Invest your Roth IRA contributions
Your contributions aren’t automatically invested—it’s up to you to pick and actually purchase investments, such as stocks or mutual funds, once money is available in your account. If you’re not sure what to invest in, consider calling in a pro for help.