What will my Medicare Part B premium be?

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Old 01-09-2015, 08:38 PM
Certified Financial Group Certified Financial Group is offline
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Default What will my Medicare Part B premium be?

Q: I am 66 years old and normally in the 10% federal income tax bracket. Since taking Social Security, I have never earned enough money to have to pay any taxes on my Social Security. In 2014, I sold my only rental income property for a long-term capital gain of about $110,000. I know that I will not have to pay federal taxes on this long-term capital gain since I am in the 10% bracket. But, will I have to pay higher Medicare premiums on my Part B (I currently pay $104 per month)? And will this sale cause me to pay taxes on my Social Security benefits? In 2014, I will report less than $2,000 in interest, receive about $7,500 in Social Security, have a net loss of about $500 from rental real estate, and have about $110,000 in a long-term capital gain.

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