2024 Ira Contribution Limits Chart Married Filing Jointly

2024 Ira Contribution Limits Chart Married Filing Jointly. You could earn a credit of 10%, 20%, or 50% of your contributions, up to a dollar amount of $2,000 ($4,000 if married filing jointly) as long as you're eligible. The annual contribution limit for a traditional ira in 2023 was $6,500 or your taxable.

For this purpose, you need to know if your filing status is single or head of household, married filing jointly or qualifying surviving spouse, or married filing separately. 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 ira, and if you’re married and filing.