Ira Limits 2024 Married Filing Jointly. In that situation, the precise limit varies based on. To be eligible to contribute the maximum amount in 2024, your modified adjusted gross income (magi) must be less than $146,000 (up from $138,000 last year).

If you file a joint return, you may be able to contribute to an ira even if you didn’t have taxable compensation as long as your spouse did. As of 2024, you can contribute up to $7,000 per year, and up to $8,000 if you’re 50 or older.