Ira Limits 2024 Income Tax Rate. Investors age 50 or older can save an extra $1,000, or. Let’s assume mark wants to convert $50,000 into a roth ira, then 7.78% of that amount is not taxable, or $3,890.
The annual contribution limit for the 2024 tax year is $7,000, up from $6,500 in 2023. As your income goes up, the tax rate on the next.