Ira Limits 2024 Income Limits . You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to. There are traditional ira contribution limits to how much you can put in.
The irs announced the 2024 ira contribution limits on november 1, 2023. 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.
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