What Is The Max 401k Deduction For 2024. The 401(k) contribution limit for 2024 is $23,000. When you make a contribution to a traditional 401 (k), you can deduct that amount from your taxable income within that year.
The 401 (k) 2024 employee contribution limit is $23,000, which is an increase. Workers who contribute to a 401 (k), 403 (b), most 457 plans and the federal governmentโs thrift savings plan can contribute up to $23,000 in 2024, a $500 increase.