2024 Ira Contribution Limits Income Over 65. 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. Get information about ira contributions and claiming a deduction on your individual federal income tax return for the amount you contributed to your ira.

The contribution limits for traditional ira contributions that you can deduct on your tax return are the most stringent; The table below shows the aggregate contribution limits for these two accounts by tax year for the.