2024 Ira Contribution Limits Irs. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older. The match isn’t counted toward your annual contribution limits.
You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. Achieving this result probably requires contributions exceeding the internal revenue code section 401(k) limits ($23,000 in 2024).