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2024 IRS Contribution Limits For IRAs, 401(k)s & Tax Brackets

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Kristin McKenna
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The IRS has released the 2024 contribution limits for retirement plans and other cost-of-living adjustments. Also, the 2024 income tax brackets and long-term capital gains tax rates.

Contribution Limits for 401(k)s, IRAs and More in 2024

2024 IRA Tax Deduction Retirement Limits

 

Income Limits for Tax-Deductible IRA Contributions

2024 IRA Tax Deduction Income Limits

 

Roth IRA Contribution Eligibility

2024 Roth IRA Contribution Eligibility

 

2024 Income Tax Brackets

2024 Tax Brackets

 

 

 

 

 

 

 

2024 Long-Term Capital Gains Tax Rates

2024 Long Term Capital Gains Tax Rates

 

 

 

 

Standard Exemptions

  • Married filing jointly: $29,200 (+ $1,550 age 65+ or blind)
  • Single: $14,600 (+ $1,950 age 65+ or blind)

AMT Exemptions

  • Married filing jointly: $133,300
  • Single: $85,700

Exemption amounts phase out beginning with alternative minimum taxable income over $1,218,700 (married/filing jointly) and $609,350 (single filers).

AMT ordinary income rate increases from 26% to 28% for alternative minimum taxable income over $232,600 (single and married/filing jointly).

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