401k 2024 Tax Year Limit

401k 2024 Tax Year Limit. The 401 (k) contribution limit for 2024 is $23,000. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from $22,500 in 2023 to $23,000 in 2024.

Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal government’s thrift. In order to get the full 50% tax credit for 2024, a single tax filer must have an agi of $23,000 or less, while joint filers must have income of $46,000 or less.