In order to avoid a big hit on IRMAA (in 2023, based on 2021 AGI), wife and I plan to make TIRA contributions before filing
our 2021 MFJ return, reducing our joint MAGI by $14,000 (as I understand, we do NOT have to add back in TIRA deduction when
computing MAGI for IRMAA purposes).
If she permanently stopped working, why not file an SSA-44 next year
to say that she stopped working in 2021 and get an IRMAA waiver? That
seems a lot more straightforward. -------------------------------------- >>
On Monday, March 14, 2022 at 1:44:25 AM UTC-4, John Levine wrote:
If she permanently stopped working, why not file an SSA-44 next year
to say that she stopped working in 2021 and get an IRMAA waiver? That
seems a lot more straightforward.
Well, she had a big income in 2020 too, because of inheritance, and then big income in 2021 because she sold a bunch of
stock to help kids buy houses. So "one time" might not fly.
The one-time event is that she stopped working in 2021, so you use the SSA-44 to tell them to use your
2022 income for the 2023 IRMAA calculation rather than 2021 income.
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