Irs Traditional Ira Contribution Limits 2024. For individual retirement accounts, or iras—both roth and traditional types—2024 contributions will max out at $7,000, up from $6,500 in 2023. The 2024 contribution limits for roth iras also apply to traditional iras.

Individuals, regardless of their income, can contribute $6,500 to a traditional ira in 2023 (or $7,500 if they are age 50 or older), and $7,000 in 2024 (or $8,000 if they are 50 or older). Married filing jointly with a spouse who is covered by a plan at work: