Solo 401k Employee Contribution Limits 2024

Solo 401k Employee Contribution Limits 2024. The irs maximum contribution to a solo 401k is $66,000 for 2023 (or $73,500 for those over age 50) and $69,000 for 2024 (or $76,500 for those over age 50). As the employee, you can contribute up to $20,500 in 2022 and $22,500 in 2023, or 100% of your compensation for the year, whichever is less.

If you are 50 years old or older, the maximum contribution limit went from $73,500 in 2023 to. The irs limits the amount of an employee’s annual compensation can be considered when deciding employer and employee contribution limits.