For taxpayers under age 50,contributions can be made to a Roth IRA in an amount equal to the lower of $5,500 or 100% of compensation,plus the amount of contributions for the year to other IRAs.

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The contribution limit for a Roth IRA for taxpayers under age 50 is $6,000 for 2023, or 100% of earned income, whichever is less. The $5,500 limit was for previous years. Contributions to other IRAs count towards this limit, not in addition to it.

For Taxpayers Under Age 50,contributions Can Be Made to a Roth