2024 Ira Contribution Limits Chart. Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your income. $7,500 (for 2023) and $8,000.

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