Ira Income Limits 2024 Married Person. For those 50 or older, the limit is $8,000, up by $1,000, allowing older savers to accelerate their retirement savings. Your deduction may be limited if you (or your spouse, if you are married) are covered by a retirement plan at work and your income exceeds certain levels.
This number is up from $6,500 in 2023, although the irs does change the contribution limit every few years (this is to keep up with inflation). For people who are aged 50 or older, the annual.
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