Ira Limits 2024 Roth Or Traditional. Married filing jointly or qualifying widow (er): Ira contribution limits for 2024 are $7,000 for those who are younger than 50 and $8,000 for those who are 50 or older.

Generally, traditional 401 (k) and ira contributions reduce your taxable income for the year. Unlike with a roth ira, there’s no income limit for those who can contribute to a traditional ira.