Ira Contribution Limits 2024. Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on. The contribution limits are the same for traditional and.

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 individuals age 50 or. Here’s a rundown of the 2024 and 2025 roth ira income and contribution limits based on your filing status and modified adjusted gross income (magi):