Solo 401 K Contribution Limits 2024 Over 50. If you are 50 years old or older, the maximum contribution limit went from $73,500 in 2023 to. For 2024, the solo 401(k) maximum contribution limit for the elective deferral is $23,000 if you’re age 50 and under.
Therefore, if you were compensated $20,000. The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older).