Backdoor Roth Ira Contribution Limits 2024 Income. In 2024, the contribution limits rise to $7,000, or $8,000 for those 50 and older. The ira contribution limit for 2023 is $6,500 per person, or $7,500 if the account owner is 50 or older.

The 401 (k) contribution limit is $23,000. 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.