[Bill14564]

Originally Posted by Boomer

CoachKandSportsguy,

You are right. Details do matter. So? What do you mean?

IRMAA is based on AGI. This is a good time of year to start thinking about IRMAA and doing something, if you can, to avoid crossing that threshold into higher Medicare costs. Some people will use QCDs to do that. Others might time when it is worth taking a capital gain.

As we know, IRMAA kicks in two years later, and the 2026 IRMAA numbers are not out yet, so all we can do is guess what 2026 will bill us for our Medicare based on 2024 AGI.

Sometimes there is no way to avoid IRMAA. I think it is especially unfair to single people. Married couples get a lot more room to maneuver their AGI to avoid IRMAA.

Altavia is correct in spotting the possible need for the OP to try to factor in IRMAA. Whether that is the reason for the OP's question is not clear. But being aware of IRMAA now and planning to stay below the threshold can save a lot of money -- two years from now.

Altavia is also right in saying to look into Roth conversions if under RMD age. Check those tax brackets and do it if you can.

To those who commented that it's too early -- Nope!

Boomer (who is not an accountant)

Focus on the question that was asked. The OP asked about results obtained from HR Block software regarding his marginal tax rate and overall tax burden. It is too early to consider 2024 when answering the question that was asked. 2024 overall tax burden cannot yet be determined and the HR Block software for 2024 is not available yet. It is too early for the answer to that question to have anything to do with 2024 tax brackets.

The discussion about IRMAA, RMD, Roth, 2024 tax brackets, and 2026 payments is interesting but not applicable to the question being answered.