401k Limits 2024 After Tax Return. For the 2023 tax year, the maximum contribution to a traditional or roth ira is the lesser of (a) your taxable compensation for 2023, or (b) $6,500 (or $7,500 if you are age 50 or older at any time during the calendar year). The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're age 50 or older.

The irs has announced the 2024 contribution limits for retirement savings accounts, including contribution limits for 401(k), 403(b), and 457(b) plans, as well as income limits for ira contribution deductibility. Year end look at ira amounts limits and deadlines, the 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older.