Ira Limits 2024 Tax. Since there are no income limits on a roth conversion, high earners can convert their traditional ira contributions to a roth ira. The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024.

What’s new for 2024 ira contribution limit increased for 2024. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2024 tax year was $7,000 or $8,000 if you were age 50 or older.