Tips. 1  As of November 2010, the IRS allows you to contribute $5,000 a year to all of your IRAs combined. 2  For illustration purposes, if youâre 28-years-old and contributed $2,100 to traditional IRAs and $3,000 to Roth IRAs in a given tax year, you contributed $100 too much.ips. 1  As of November 2010, the IRS allows you to contribute $5,000 a year to all of your IRAs combined. 2  For illustration purposes, if youâre 28-years-old and contributed $2,100 to traditional IRAs and $3,000 to Roth IRAs in a given tax year, you contributed $100 too much.