2024 Max Ira Contribution Limit In India.  — the 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. For single filers, this number increased by $750 to $14,600.

Each year, the irs reviews inflation data and determines whether ira contribution limits should be raised. Given the high inflation in 2023, they increased the 2024 contribution limits for traditional and roth iras as well as employer sponsored sep and simple iras.