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Roth IRA contribution limit

Can I contribute any amount to my ROTH IRA account at any time? Or is there any limit like $8K that includes ROTH IRA + Traditional IRA amount? I am 60-plus, and the joint family income is around $125K

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1 Reply
AnnetteB6
Employee Tax Expert

Roth IRA contribution limit

The $8000 IRA contribution limit based on age does include both Traditional IRA and Roth IRA contributions.  You cannot contribute $8000 to each type of IRA account.  The total contributions must be under the contribution limit.

 

Roth IRA contributions can be made at any time.  It is not too late to make a contribution for 2025 as long as your income and filing status allows you to do so.  The quickest way to know whether you are eligible to make a Roth IRA contribution is to include it as part of your tax return while using TurboTax.  Enter the amount that you plan to contribute and read the information onscreen carefully.  You will get a message that you have made an excess contribution if your income does not allow the Roth contribution.  

 

If you need guidance for how to do this, take a look at the following TurboTax help article:

 

Where do I enter my traditional or Roth IRA contributions?
 

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