Ira Deduction Limits 2024 Agi Deduction. While anyone who has earned income can contribute to a traditional ira, you. For 2024, if you are covered by a retirement plan at work, your deduction for contributions to a traditional ira is reduced (phased out) if your modified agi is:

If you’re age 50 or older, you’re eligible for extra contributions as well. You can add another $1,000 for.