whitestick
Recycles dryer sheets
- Joined
- Apr 5, 2005
- Messages
- 415
Did the conversion from IRA to ROTH in 2010, and elected to spread over two years for tax purposes, to pay the taxes. Nobody told me, that Medicare Part B and D had an adjustment to raise the amount of costs to you based on the MAGI on your tax 1040. Even though its moving an asset from one class to another, and NO income is taken out, only declared and taxed, they raise the charges you have to pay for each year of the higher MAGI on your 1040. So penalty of Income tax paid, and double penalty of higher Medicare B/D costs. What a racket.