401k Limits 2024 After Tax Deduction. The exemption limits increased from approximately $7 million (individuals) and $14 million (married couples) in 2017 to $13.61 million and.  — when you make a contribution to a traditional 401 (k), you can deduct that amount from your taxable income within that year.

Single or head of household: Older workers can defer paying income tax on as much as $30,500 in a.