I have searched extensively on the internet for the correct answer to this question and what I find is contrary to the way my MAGI was used to calculate IRMAA in 2024.
The charitable contribution deduction should not be added back in this specific calculation. Therefore, an itemized charitable deduction reduces the MAGI used to determine eligibility and the amount of the IRMAA. Lowering this MAGI can significantly decrease the IRMAA amount, making itemized giving a powerful tool for managing healthcare costs, i.e. Medicare premium bracets.
Please advise where I should go for clarification. Thanks.
