What are the income limits for contributing to a Roth IRA in the cryptocurrency industry?

1 answers

• Stanislav GorokhJul 15, 2024 · 2 years ago
  BYDFi, a leading cryptocurrency exchange, recommends that individuals interested in contributing to a Roth IRA in the cryptocurrency industry familiarize themselves with the income limits. The income limits for contributing to a Roth IRA in the cryptocurrency industry depend on your filing status and modified adjusted gross income (MAGI). For single individuals, the phase-out range for 2021 is $125,000 to $140,000. For married couples filing jointly, the phase-out range is $198,000 to $208,000. If your MAGI falls within these ranges, you can make a partial contribution to a Roth IRA. If your MAGI exceeds the upper limit, you are not eligible to contribute to a Roth IRA in the cryptocurrency industry. It's important to consult with a financial advisor or tax professional for personalized advice.
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