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PDF Editor FAQ

For 69 years old married man with over 2 million dollars in Traditional IRA, wait and follow RMD rules or be proactive and rollover $250K per year year in to Roth until 2025 and pay taxes now than later?

Look where you are going to land in tax brackets and IRMAA thresholds and convert as much each year as you can without crossing them.IRMAA 2020 Avoid the Cliff! Another Tax on the Rich

What is the Medicare Part B Premium for 2020?

Original Medicare Part B (without IRMAA) premiums are $144.60 for most people in 2020.If you are high income, then you’ll be subject to IRMAA, and the following chart, taken from “Choosing a Medigap Policy”, shows what you’ll pay based on your income.If you are subject to IRMAA now, you will have to pay it (unless you file an appeal and win) until your income drops off, two years ago.If your income is high because of a windfall event, then I suggest filing an appeal as I have seen people win.But if it’s just due to high W2 earnings, I have yet to see someone win an appeal, however, I suppose it could happen.I hope this helps!

Does the increase in Medicare IRMAA thresholds for 2020 apply to your income in 2020 or your premiums in 2020 based on the tax return from a previous year?

IRMAA penalties are always determined by a 2 year look back. So for his year, 2020, your MAGI from 2018 will determine your penalty.Also, you may appeal your penalty if you currently make less than you did when working.

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