2024 Ira Contribution Limits Irs Over 50. If you’re single, your contributions to a traditional ira up to $6,500 (or $7,500 if over age 50) are deductible regardless of your income if you’re not covered by a workplace retirement. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift savings plan can contribute up to $23,000 in 2024, a $500 increase.

The ira contribution limit for 2024 is $7,000. The maximum total annual contribution for all your iras (traditional and roth) combined is: