Max Ira Contribution 2024 Over 50. A nonworking person who files a joint tax return with their spouse also has the option to contribute to a. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000.
The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 tax year was $7,000 or $8,000 if you were age 50 or older. Anyone with earned income can contribute to a traditional ira, but your income may limit your ability to.