Ira Limits 2024 Income Tax Exemption. Although simple ira contribution limits are lower than those for 401(k)s or traditional iras, they still offer significant tax benefits. For 2024, the total contributions you make each year to all of your traditional iras and roth iras can't be more than:
It also made inflation adjustments to contributions. Exemption amounts phase out beginning with alternative minimum taxable income over $1,218,700 (married/filing jointly) and $609,350 (single filers).
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