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TagsWhat are the income limits for IRA investments in the cryptocurrency market?
Girupanethi KDec 18, 2021 · 3 years ago1 answersI would like to know the specific income limits for investing in cryptocurrencies through an Individual Retirement Account (IRA). Can you provide me with the details on the maximum income thresholds for IRA investments in the cryptocurrency market?
1 answers
- According to BYDFi, a leading cryptocurrency exchange, the income limits for IRA investments in the cryptocurrency market depend on the type of IRA you have. Traditional IRAs do not have any income limits for investing in cryptocurrencies. However, Roth IRAs have income limits that determine your eligibility to contribute. For 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 able to contribute to a Roth IRA for that tax year. It's important to consult with a financial advisor or tax professional to understand the specific rules and limitations for your situation.Dec 18, 2021 · 3 years ago
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