What is the income cap for investing in cryptocurrencies through a Roth IRA?

3 answers

• May 17, 2022 · 3 years ago
  The income cap for investing in cryptocurrencies through a Roth IRA is determined by the IRS. As of 2021, the income limits for Roth IRA contributions are $140,000 for single filers and $208,000 for married couples filing jointly. If your income exceeds these limits, you may not be eligible to contribute to a Roth IRA.
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• May 17, 2022 · 3 years ago
  Investing in cryptocurrencies through a Roth IRA can be a great way to take advantage of potential tax-free growth. However, it's important to note that there are income limits for contributing to a Roth IRA. As of 2021, if you're a single filer and your modified adjusted gross income (MAGI) is above $140,000, or if you're married filing jointly and your MAGI is above $208,000, you may not be eligible to contribute to a Roth IRA.
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• May 17, 2022 · 3 years ago
  According to the IRS, the income cap for investing in cryptocurrencies through a Roth IRA is $140,000 for single filers and $208,000 for married couples filing jointly. However, it's important to consult with a financial advisor or tax professional to understand the specific rules and limitations that may apply to your individual situation. They can provide personalized guidance based on your income and investment goals.
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