Fidelity 2024 Contribution Limits

Fidelity 2024 Contribution Limits. If you have a traditional ira, a roth ira―or both―the maximum combined amount you may contribute annually across all your iras is the same: Each year, the internal revenue service (irs) provides a limit on what an individual can contribute to a 401 (k) plan.

Anyone can contribute to a traditional ira, but your ability to deduct contributions is based on your income. Each year, the irs reviews inflation data and determines whether ira contribution limits should be raised.