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I am making IRMAA payments to Medicare. Is this extra tax deductable as an "Other Tax" , therefore not subject to the 7.5% threshold on the Medical/Dental expenses?
I'm not collecting Social Security, so the published cost of my Medicare is $134/mo.
My IRMAA for Medicare Part B and D is $269.50/mo.
Should I claim the $134/mo. as a "Medical Expense" (subject to 7.5% threshold) and claim the $269.50/mo. as a fully deductible "Other Tax" ?
My rationale is the IRMAA is indeed a tax based on income, whereas the Medicare cost is not.
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May 31, 2019
7:13 PM