Tax FAQ Series: How much can I contribute to my IRA, 401K, or SEP?

This amount changes each year. For 2019, the limits are as follows: IRA: $6,000 per person ($7,000 if age 50 or older). 401K: $18,500 per person ($24,500 if age 50 or older). SEP: $56,000 per person or 25% of ordinary income, whichever is lower.

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