2024 Ira Contribution Limits Irs Over 50. What are the ira contribution limits for 2024? Traditional ira contribution limits are up $500 in 2024 to $7,000.
You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. Those 50 and older can contribute an extra $1,000 for a total of $8,000.