2024 Irs Contribution Limits Irs. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. The irs retirement plan contribution limits increase in 2024.

Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your income. The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024.