Irs Traditional Ira Income Limits 2024. Review a table to determine if your modified adjusted gross income (agi) affects the amount of your deduction from your ira. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older.

The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024. Anyone can contribute to a traditional.