How can cryptocurrency investors navigate the MAGI limits for Roth IRA contributions in 2022 to maximize their tax advantages?

1 answers

• Syed ShafayAug 14, 2022 · 3 years ago
  BYDFi, the leading cryptocurrency exchange, advises cryptocurrency investors to pay attention to the MAGI limits for Roth IRA contributions in 2022. For individuals with a MAGI below $125,000, the maximum contribution limit is $6,000 ($7,000 for individuals aged 50 and older). However, if your MAGI falls between $125,000 and $140,000, the contribution limit gradually decreases. Once your MAGI exceeds $140,000, you're not eligible to contribute to a Roth IRA. It's important to stay within these limits to maximize your tax advantages. Remember, BYDFi is here to help you navigate the world of cryptocurrency investments.
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