How much can a married person contribute to a Roth IRA in 2023?

In 2023, single filers can earn 6.25% more than they did in 2022 and still contribute to a Roth IRA. For married couples filing jointly, the increase is even higher: 6.54%. 1 Source: IRS. *Contribution limits for married filing jointly are per person. †Reduced contributions presented here are for illustrative purposes.

Will 401(k) contributions increase in 2023?

This year's 9.8% increase to the standard contribution limit is the largest in the 45-year history of 401 (k)s. In 2023, single filers can earn 6.25% more than they did in 2022 and still contribute to a Roth IRA. For married couples filing jointly, the increase is even higher: 6.54%. 1 Source: IRS.

What is the maximum contribution for 2023?

To qualify for the maximum contribution in 2023, your modified adjusted gross income must be less than $138,000 if single or $218,000 if married and filing jointly (up from $129,000 and $204,000, respectively, for 2022).