IRMAA Guess Question

[audreyh1]

When I hear that expression, I think about getting "tail whipped" by our pup, a pit. Her tail makes me think of an iron cord.

One thing about capital gains is the potential opportunity for tax loss harvesting, in the event of a market drop . . .

Good luck!

Yes. Some of my legacy funds have huge cap gains. It would take a return to the 2020 bottom to have a tax loss harvesting opportunity. I’ve already used up all the “easy” ones.

 

[joesxm3]

Most of you probably have too much income, but don't forget tax gain harvesting if you are not doing ROTH conversions.

That's what got me on the slippery slope to the third IRMA level. I thought I would lock in some LTCG at 0% up to the $40,000ish single filer level. Things got a little out of hand. Tomorrow opens a new set of screw up opportunities.

 

[Car-Guy]

Most of you probably have too much income, but don't forget tax gain harvesting if you are not doing ROTH conversions.

That's what got me on the slippery slope to the third IRMA level. I thought I would lock in some LTCG at 0% up to the $40,000ish single filer level. Things got a little out of hand. Tomorrow opens a new set of screw up opportunities.

I'll probably hold out until at least Jan 2nd to start screwing up things. Markets are closed tomorrow but if there is a way, I'll find it.

 

[audreyh1]

Most of you probably have too much income, but don't forget tax gain harvesting if you are not doing ROTH conversions.

That's what got me on the slippery slope to the third IRMA level. I thought I would lock in some LTCG at 0% up to the $40,000ish single filer level. Things got a little out of hand. Tomorrow opens a new set of screw up opportunities.

Well I have done a little here and there on some legacy funds that sometimes pay out large cap gains distributions over the last couple of years. But I’m at a point now where any more easily pushes us into another IRMAA level. I no longer have much room.

We had a huge amount of taxable interest income this year - much larger than usual. That should go down somewhat.

 

[TheWizard]

Tax Loss Harvesting can be next to impossible for many retirees who are slowly depleting their portfolio and haven't bought any new equity shares in their taxable account for the past decade+.

But we have some folks who don't "need" their RMD and just reinvest the proceeds in their taxable account. Those recently purchased lots are the ones most suitable for TLHing..

 

[audreyh1]

Tax Loss Harvesting can be next to impossible for many retirees who are slowly depleting their portfolio and haven't bought any new equity shares in their taxable account for the past decade+.

But we have some folks who don't "need" their RMD and just reinvest the proceeds in their taxable account. Those recently purchased lots are the ones most suitable for TLHing..

Good point.

We’ll see what we end up doing. After QCDs we will probably withdraw the remainder in kind.

 

[Car-Guy]

As I'm sitting around "pondering" this thread, I'm about to call it quits and just forget about worrying and trying to beat IRMAA and tax brackets. Life is too short and it's getting shorter everyday. Not that I mind leaving something to my heirs, but that's not what I'm living for!

Now, where is that blow that dough thread again.