Irs Simple Ira 2024 Limits. Review a table to determine if your modified adjusted gross income (agi) affects the amount of your deduction from your ira. You may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your ira.
The simple ira and simple 401(k) contribution limits will increase from $16,000 in 2024 to $16,500 in 2025. You can contribute up to $16,000 to a simple ira in 2024, up from $15,500 in 2023.