- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
My wife and I just have Medicare Part B this year which is new to me and we paid more than the standard $148.50 because in 2019 she took a distribution of $45K from her 401K that put our MAGI $510 above the lowest standard limit. We didn't have to sign up for Medicare prior because I was working with a local government. My retirement was unexpected due to a severance package offered in December 2020. My wife and I both get SSI payments each month and had our Medicare premium payment deducted. I got my premium reimbursed but my wife's wasn't as her old company didn't honor it. As I am now doing a projected 2021 income to stay on the limit and also considering doing a ROTH conversion. Is Medicare Premium payment deducted to your AMAGI when SSI determine how much I need to pay? Assuming I have another $500 over the limit. If I donate before April 15, 2022, can the donated amount be deducted to my 2021 AGI? Thanks