Max Ira Contribution 2024. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira. In 2024, you can contribute up to $7,000 to a traditional ira, a roth ira, or a combination of the two.
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. 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.