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Retirement tax questions
For 2020 and later, there is no age limit on making regular contributions to traditional or Roth IRAs. Having a RMD distribution does Not preclude you from contributing to an IRA.
For 2024, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $7,000 ($8,000 if you're age 50 or older), or
- If less, your taxable compensation for the year
IRS website - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...
‎December 17, 2024
6:54 AM