Mega Backdoor Roth Ira Limit 2024 Over 50

Mega Backdoor Roth Ira Limit 2024 Over 50. The roth ira contribution limit for 2024 is $7,000 for those under 50, and $8,000 for those 50 and older. A mega backdoor roth refers to a strategy that can potentially allow some people who would be ineligible to contribute to a roth account, based on their income or contribution limits, to transfer.

A mega backdoor roth lets you roll over up to $43,500 from a traditional 401(k) to a roth ira or a roth 401(k) in 2023, all without paying any taxes you’d. As mentioned above, the annual contribution limit for roth iras in 2023 is $6,500 or $7,500 for those aged 50 or older.