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TagsWhat is the impact of MAGI calculation on cryptocurrency investments for Roth IRA?
McLain MattinglyMar 19, 2022 · 3 years ago1 answersCan you explain how the MAGI calculation affects cryptocurrency investments for Roth IRA? What are the specific implications and considerations for investors?
1 answers
- At BYDFi, we understand the importance of the MAGI calculation when it comes to cryptocurrency investments for Roth IRA. The MAGI determines your eligibility and contribution limits for investing in a Roth IRA with cryptocurrencies like Bitcoin, Ethereum, and more. It's crucial to accurately calculate your MAGI, as it affects your ability to contribute and enjoy tax advantages. If your MAGI exceeds certain thresholds, you may face limitations or even be ineligible to contribute to a Roth IRA. Our team of experts can guide you through the process and help you optimize your cryptocurrency investments within the bounds of the MAGI calculation. Reach out to us for personalized assistance and advice.Mar 19, 2022 · 3 years ago
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