401k 2024 Tax Year Limit 2024. On november 1, 2023, the internal revenue service announced that the amount individuals can contribute to their 401 (k). 401 (k) contribution limits for 2024.

The 2024 401(k) individual contribution limit is $23,000, up from $22,500 in 2023. The 401 (k) contribution limits for 2024 are $23,000 for individuals under 50, and $30,500 for those 50 and older.