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2024

Ira Contribution Limits 2024 Phase Out 2024

Ira Contribution Limits 2024 Phase Out 2024. As of 2024, you can deduct the lesser of $2,500 or the amount of interest you paid during the year. The ira contribution limit is $7,000, or $8,000 for individuals 50 or older in 2024.


Ira Contribution Limits 2024 Phase Out 2024

If you are 50 and older, you can contribute an additional $1,000 for a total of $8,000. You can contribute a maximum of $7,000 (up from $6,500 for 2023).

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