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Question

2025 Traditional IRA Contribution limit not correct

Forum|Forum|2 months ago
March 17, 2026
1 reply
0 views

I am over 50 and contributed $8,600 to my traditional IRA. However the system is now telling me that I had excess contributions of $600. The limit for 2024 was $8,000 so it seems that the software was not updated?

TurboTax Deluxe Online

Level 15

The program is correct. For 2024 the limit if you are 50 or older is $8,000. Per the IRS:

For 2026, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than:

$7,500 ($8,600 if you’re age 50 or older), or

If less, your taxable compensation for the year

For 2025 and 2024, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:

$7,000 ($8,000 if you're age 50 or older), or

If less, your taxable compensation for the year

Information taken from IRS Web Page: Retirement topics - IRA contribution limits

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