Roth Ira Contributions 2024. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) in 2024. You cannot deduct contributions to a roth ira.
Ira account holders can contribute up to $7,000 in 2024, which is a $500 jump over the 2023 cap. Charitable contributions must be claimed as itemized deductions on schedule a of irs form 1040.