Ira Income Limits 2024 Married. Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your income. For 2024, the annual contribution limits on iras increased by $500, bringing the total to $7,000.
Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your income. If you file taxes as a single person, your modified adjusted gross income (magi) must be under $153,000 for tax year 2023 and $161,000 for tax year 2024 to contribute to a roth ira, and if you’re married and file.