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Whether or not you can make the maximum Roth IRA contribution ($5,500 annually, or $6,500 if you're age 50 or older) depends on your tax filing status and your modified adjusted gross income (MAGI) .
As a general rule, IRAs have an annual contribution limit of $5,000 per individual. There are income limitations which limit which IRA you can contribute to, for example, deductible IRAs, Roth IRAs and non-deductible IRAs.I recommend reading up on IRA Contribution Limits to better understand the requirements.s a general rule, IRAs have an annual contribution limit of $5,000 per individual. There are income limitations which limit which IRA you can contribute to, for example, deductible IRAs, Roth IRAs and non-deductible IRAs.