Income Limit For Roth Ira Contribution 2024. To open a roth ira for kids, the child must have earned income. The same combined contribution limit applies to all of your roth and traditional iras.
As of 2024, the roth ira contribution limit is $7,000 per year or the amount of earned income, whichever is less. If you’re 50 or older, the limit is $8,000.
