common-close-0
BYDFi
Trade wherever you are!

What are the Roth AGI limits for 2023 in the context of cryptocurrency?

avatarTobiasen HenningsenDec 25, 2021 · 3 years ago3 answers

In the context of cryptocurrency, what are the adjusted gross income (AGI) limits for Roth contributions in 2023? How does cryptocurrency impact these limits?

What are the Roth AGI limits for 2023 in the context of cryptocurrency?

3 answers

  • avatarDec 25, 2021 · 3 years ago
    The adjusted gross income (AGI) limits for Roth contributions in 2023 are as follows: For single filers, the phase-out range starts at $125,000 and ends at $140,000. For married couples filing jointly, the phase-out range starts at $198,000 and ends at $208,000. It's important to note that these limits apply to all sources of income, including cryptocurrency. If your AGI exceeds the upper limit of the phase-out range, you won't be eligible to make a full Roth contribution. However, you may still be able to make a partial contribution depending on your income level.
  • avatarDec 25, 2021 · 3 years ago
    Hey there! So, the AGI limits for Roth contributions in 2023, when it comes to cryptocurrency, are pretty straightforward. If you're filing as a single individual, you can contribute to a Roth IRA as long as your AGI is below $125,000. But if your AGI is between $125,000 and $140,000, your contribution limit will be reduced. And if your AGI exceeds $140,000, you won't be able to contribute to a Roth IRA at all. For married couples filing jointly, the AGI limit is $198,000 for full contributions, with a phase-out range up to $208,000. Keep in mind that these limits apply to all sources of income, including cryptocurrency gains.
  • avatarDec 25, 2021 · 3 years ago
    According to the current rules, the AGI limits for Roth contributions in 2023 are $125,000 to $140,000 for single filers, and $198,000 to $208,000 for married couples filing jointly. These limits take into account all sources of income, including cryptocurrency. If your AGI falls within the phase-out range, your contribution limit will be reduced. If your AGI exceeds the upper limit, you won't be eligible to contribute to a Roth IRA. However, it's worth noting that these limits are subject to change, so it's always a good idea to consult with a tax professional or financial advisor for the most up-to-date information.