For 2026, the IRS caps your total contributions to all of your traditional and Roth IRAs combined at $7,500, or $8,600 if you are age 50 or older. If your taxable compensation for the year is less than that, your limit is the amount of your compensation instead.
That is up from $7,000 ($8,000 for age 50 and older) for 2024 and 2025. The limit does not apply to rollover contributions, and there is no longer a maximum age for making regular contributions. Roth IRA contributions can be further reduced based on income and filing status, and excess contributions are taxed at 6% per year until they are withdrawn.
Source: Internal Revenue Service, “Retirement topics – IRA contribution limits”.
Image: Internal Revenue Service Building, Washington, D.C., photo by Carol M. Highsmith, public domain, via Wikimedia Commons.