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Turbo tax is stating that the max contribution to ROTH IRA is $7,000, but when I contacted my retirement advisors, they said it's $23,000. Not sure which is correct
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For 2024, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $7,000 ($8,000 if you're age 50 or older), or
- If less, your taxable compensation for the year
The maximum contribution to a Roth 401(k) in 2024 is $23,000 for employees, and $69,000 combined for employees and employers.
Roth comparison chart
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