Ira 2024 Contribution Limit Over 50. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 tax year was $7,000 or $8,000 if you were age 50 or older. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000.
For individuals under the age of 50, the general ira contribution limit is now set at $7,000, a $500 increase from the 2023 tax year. The combined annual contribution limit in 2024 for a traditional and roth ira is $7,000 for those younger than age 50 and $8,000 for those 50 and older (since the latter are eligible.
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