Ira Limits 2024 Contribution 2024. If you’re a single filer, you’re eligible to contribute a portion of the full amount if your magi is. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023.

The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable income. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you’re age 50 or older.