What is the yearly contribution limit for cryptocurrencies in an IRA?

3 answers

• Muhammed arif ASep 28, 2022 · 3 years ago
  The yearly contribution limit for cryptocurrencies in an IRA is $6,000 for individuals under the age of 50 and $7,000 for individuals who are 50 years old or older. This limit applies to all types of IRAs, including traditional, Roth, and SEP IRAs. It's important to note that this contribution limit is for the total amount contributed to all IRAs, not just cryptocurrencies. So if you contribute $4,000 to a traditional IRA, you can only contribute up to $2,000 to a cryptocurrency IRA.
  488

  244
• Melissa13Sep 18, 2021 · 4 years ago
  Hey there! The yearly contribution limit for cryptocurrencies in an IRA is $6,000 if you're under 50 years old and $7,000 if you're 50 or older. This limit applies to all IRAs, whether they're traditional, Roth, or SEP IRAs. Just keep in mind that this limit includes all your IRA contributions, not just the ones for cryptocurrencies. So, if you've already contributed $4,000 to a traditional IRA, you can only contribute up to $2,000 to a cryptocurrency IRA.
  460

  154
• DankDaddy8May 23, 2024 · a year ago
  The yearly contribution limit for cryptocurrencies in an IRA is set by the IRS. For individuals under the age of 50, the limit is $6,000 per year. If you're 50 years old or older, you can contribute up to $7,000 per year. This limit applies to all types of IRAs, including traditional, Roth, and SEP IRAs. It's important to keep track of your contributions to ensure you don't exceed the limit and face any penalties. If you're unsure about the specific rules and regulations, it's always a good idea to consult with a financial advisor or tax professional.
  557

  140