What is the impact of cryptocurrency on the historical income limits for Roth IRAs?

1 answers

• Mar 23, 2022 · 3 years ago
  As a representative of BYDFi, I can say that the impact of cryptocurrency on the historical income limits for Roth IRAs is not unique. The income limits for Roth IRAs have always been based on an individual's modified adjusted gross income (MAGI), regardless of the source of income. Cryptocurrency is simply another form of investment that falls under the same regulations. Therefore, individuals who earn income from cryptocurrency investments will still need to consider the income limits set by the IRS when it comes to contributing to a Roth IRA. It's always advisable to seek professional advice to fully understand the implications of cryptocurrency investments on retirement accounts like Roth IRAs.
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