Ira Limits 2024 Tax Deduction. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. That $7,000 or $8,000 in 2024 is the total you can deduct for all contributions to your traditional ira, as long as you or your spouse are not covered by a work retirement plan.
You can make 2024 ira. The table below details the limits for tax years 2023 and 2024.
