Ira Contribution Limits 2024 Married. The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable income. Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your.

The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024 and 2025. $6,500 (for 2023) and $7,000 (for 2024) if you’re under age 50;