Simple Ira Contribution Limits 2024 For Married Couples

Simple Ira Contribution Limits 2024 For Married Couples. For married couples filing a joint income tax return, the limit applies separately to each. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you're age 50 or older.

If you participate in a simple ira plan (often used by small businesses), the contribution limit for 2024 is $16,000, up from $15,500 in 2023. For 2023, the limit is $6,500.