Traditonal Ira Contribution Limits 2024. $123,000 (in 2024) $136,000 (in 2023); $7,000, or $8,000 if you’re 50 or older.

The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable income. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older.