IRA Contribution Limit & Rules
Traditional and Roth IRA Contribution Limit Chart1
| Year | Age 49 & Under | Age 50 & Over |
|---|---|---|
| 2023 | $6,500 | $7,500 |
| 2024 | $7,000 | $8,000 |
1Or 100% of your earned income, whichever is less
SEP IRA Contribution Limits
| Year | Contribution Limit |
|---|---|
| 2024 | $69,0002 |
2Or 25% of compensation, whichever is less
ESA Contribution Limits3
| Year | Contribution Limit |
|---|---|
| 2023 | $2,000 |
| 2024 | $2,000 |
3Can only make contributions if ESA beneficiary is under age 18