2024 Ira Limits Over 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 ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024.
This is an increase from 2023, when the limits were $6,500 and $7,500, respectively. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000.
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