Aileen Maitilde

Ira Contribution Limits 2024 Over 55. The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you're younger than age 50. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.

The irs sets annual ira contribution limits for both traditional and roth iras. This is an increase from 2023, when the limits were $6,500 and $7,500,.