Traditional Ira Contribution Limits 2024 Irs. The contribution limit for individual retirement accounts (iras) for the 2024 tax year is $7,000. Unlike with a roth ira, there's no income limit for those who can contribute to a traditional ira.

Unlike with a roth ira, there’s no income limit for those who can contribute to a traditional ira. When the individual retirement account (ira) was created in 1974, the contribution limit per year was $1,500;