2024 Traditional Ira Deduction Income Limits

2024 Traditional Ira Deduction Income Limits. If you are 50 and over, you can contribute an additional $1,000. If you’re 50 or older, you can make an additional $1,000 catch.

The maximum total annual contribution for all your iras (traditional and roth) combined is: If you’re single, your contributions to a traditional ira up to $6,500 (or $7,500 if over age 50) are deductible regardless of your income if you’re not covered by a workplace retirement.