2024 Ira Contribution Limits Income Over 65. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. The ira contribution limit for 2024 is $7,000.

The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. The 2025 ira contribution limit remains $7,000, the same as in 2024.