Ira Limits 2024 Married Filing Jointly. If you’re married and filing jointly and if your spouse is covered by a workplace plan and you are not, you can deduct the full amount of your contribution to a traditional ira if your joint income. Start with your modified agi.

If your modified agi is less than $230,000, then you are able to contribute up to the $7,000 contribution limit ($8,000 if you’re age 50 or older) in 2024. The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable.