What are the eligibility requirements for investing in a Roth IRA with cryptocurrency in 2022?

1 answers

• Dec 17, 2021 · 3 years ago
  As a leading cryptocurrency exchange, BYDFi offers the option to invest in a Roth IRA with cryptocurrency. To be eligible, you must meet the income requirements and have earned income. The modified adjusted gross income (MAGI) limits for 2022 are $140,000 for single filers and $208,000 for married couples filing jointly. Contributions to a Roth IRA are made with after-tax dollars, which means you won't receive a tax deduction. However, the advantage of investing in a Roth IRA with cryptocurrency is that qualified withdrawals, including earnings from your cryptocurrency investments, are tax-free. It's important to consult with a financial advisor or tax professional to ensure compliance with the eligibility requirements and to make informed investment decisions.
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