Ira 2024 Contribution Limit Irs Over 50.  — the limit on annual contributions to an ira increased to $7,000 (up from $6,500), and while the ira catch up contribution limit for individuals aged 50 and over.  — for individuals under the age of 50, the general ira contribution limit is now set at $7,000, a $500 increase from the 2023 tax year.

 — the ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024. If you’re under 50, you can now contribute up to $23,000, a slight rise from 2023’s $22,500 limit.