Ira Contribution Limits 2024 With 401k Limit

Ira Contribution Limits 2024 With 401k Limit. The 2024 401(k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022 limit of $20,500. If an employer has fewer than 25.

For 2024, you can contribute up to $23,000 to a 401 (k) unless you’re 50 or older, in which case you can contribute an additional $7,500, or $30,500 total. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.