Yes, because of your income, the contribution may be limited. Here are the income limits as well as reduced contributions.
2024 Roth IRA Income Limits
Single, Head of Household, or Married Filing Separately (did not live with spouse)
- Full contribution: MAGI less than $146,000
- Reduced contribution: MAGI $146,000 - $161,000
- No contribution: MAGI above $161,000
Married Filing Jointly or Qualifying Surviving Spouse
- Full contribution: MAGI less than $230,000
- Reduced contribution: MAGI $230,000 - $240,000
- No contribution: MAGI above $240,000
Your income level may have fallen in the category of reduced contribution and if that is the case, your contribution was limited.
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