Ira Contribution Limits 2024 Salary Cap Calculator

Ira Contribution Limits 2024 Salary Cap Calculator. Calculate your ira contribution limits. $6,500 (for 2023) and $7,000 (for 2024) if you're under age 50.

Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older). The irs this week announced it was raising the 401 (k) contribution limit to $23,000, up from $22,500 currently.