2024 Ira Contribution Limits Income Limit Increase. Review a table to determine if your modified adjusted gross income (agi) affects the amount of your deduction from your ira. More people will be able to make contributions to roth.
For those who use simplified employee pension (sep) iras or simple iras, the 2025 contribution limits are as follows: 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).