Traditional Ira Income Limits 2024 Calculator. As a couple, you can contribute a combined total of $14,000 (if you're both under 50) or $16,000 (if you're both 50 or older) to a traditional ira for 2024. This table shows whether your contribution to a roth ira is affected by the amount of your.
You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.