Ira Contribution Limits 2024 Phase Out. This is an increase from 2023, when the limits were $6,500 and $7,500, respectively. Contribution limits begin to decline, or phase out, for individuals with agis between $146,000 and $161,000 and for married couples with agis between $230,000 and.

The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. You can contribute a maximum of $7,000 (up from $6,500 for 2023).