ComputeResults
For 2024, the maximum you can generally contribute to your 401(k) is $23,000. If you are at least 50 years old, you may be able to contribute another $7,500 using catch-up contributions. Your employer may impose lower or plan-specific maximums.
| Married, filing jointly |
Head of Household |
Single filers |
Tax Rate |
| $0 - $23,200 |
$0 -
$16,550 |
$0 -
$11,600 |
10% |
| $23,201 - $94,300 |
$16,551 - $63,100 |
$11,601 - $47,150 |
12% |
| $94,301 - $201,050 |
$63,101 - $100,500 |
$47,151 - $100,525 |
22% |
| $201,051 - $383,900 |
$100,501 - $191,950 |
$100,526 - $191,950 |
24% |
| $383,901 - $487,450 |
$191,951 - $243,700 |
$191,951 - $243,725 |
32% |
| $487,451 - $731,200 |
$243,701 - $609,350 |
$242,726 - $609,350 |
35% |
| More than $731,200 |
More than $609,350 |
More than $609,350 |
37% |
Source: IRS, 2024 tax rate schedules.
If the IRA holder turns 73 this year, he or she can defer the first distribution until April 1 of the next year. If the holder is older, he or she would normally be required to take an RMD before December 31 of this year. RMDs are considered taxable income for the year in which they are taken.
Your total contribution, including employer contributions, cannot exceed $69,000. Your employer may impose lower or plan-specific maximums.
For 2024, your total contribution, including employer funds, cannot generally exceed $69,000 for 401(k) and 403(b) plans, and $23,000 for common 457(b) plans. Your employer may impose maximums that are less than what the law allows.
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