2024 Ira Contribution Limits Irs
If you are 50 and older, you can contribute an additional $1,000 for a total of $8,000. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.
These limits saw a nice increase, which is due to higher than. Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for.