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How much can I put in my IRA for this year and can it be done online?
| Traditional and Roth IRA Aggregate Annual Contribution Limits | ||
| Tax Year | Annual Contribution Limit | "Catch-Up" Contributions Owner is 50 or older |
| 2024 | $7,000 | $1,000 ($8,000 total contribution) |
| 2023 | $6,500 | $1,000 ($7,500 total contribution) |
An individual may only contribute an amount less than or equal to their earned income, up to the annual contribution limit. For example, if you earned $4,000 for the year, you can only contribute up to $4,000 to your IRA. However, if you earned $15,000 for the year, you can contribute up to the limits listed above based on the tax year.
You can make regular IRA contributions from your own Savings, Additional Savings, Checking or Money Market accounts from within Online Banking or Mobile Banking. To do this, log in to your Online Banking account and transfer the funds utilizing the Transfer tool. (Contributions for the prior tax year may be made online until the tax return deadline, which is generally April 15th. Prior year contributions are not available in Mobile Banking.)
If you prefer to mail a check for your regular contributions, you may access the Roth IRA Deposit form and the Traditional IRA Deposit form. Complete, sign, and mail to Delta Community, P.O. Box 20541, Atlanta, GA 30320-2541, Attn: IRA Dept.
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Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
