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@SLYKTAX yes that strategy can work, but remember, the IRMAA cutoffs are 'cliffs', so unless you get yourself below one of the cliffs, it won't matter. However, your strategy would permit you to roll an additional $3,000 from Trad to Roth.
these are estimates of 2024 AGIs that will impact IRMAA in 2026. It is developed using an assumption of 0% inflation and 3% inflations.
personally, my strategy is to determine the highest marginal tax rate and the highest IRMAA I am willing to pay and then do enough Roth conversions so I am just below the top of marginal tax bracket or just below the IRMAA cliff.
Part B Premium 2026 Coverage (2024 Income)0% Inflation 2026 Coverage (2024 Income)3% Inflation
Standard | Single: <= $107,000 Married Filing Jointly: <= $214,000 Married Filing Separately <= $107,000 | Single: <= $110,000 Married Filing Jointly: <= $220,000 Married Filing Separately <= $110,000 |
1.4x Standard | Single: <= $135,000 Married Filing Jointly: <= $270,000 | Single: <= $138,000 Married Filing Jointly: <= $276,000 |
2.0x Standard | Single: <= $168,000 Married Filing Jointly: <= $336,000 | Single: <= $172,000 Married Filing Jointly: <= $344,000 |
2.6x Standard | Single: <= $202,000 Married Filing Jointly: <= $404,000 | Single: <= $206,000 Married Filing Jointly: <= $412,000 |
3.2x Standard | Single: < $500,000 Married Filing Jointly: < $750,000 Married Filing Separately < $393,000 | Single: < $500,000 Married Filing Jointly: < $750,000 Married Filing Separately < $390,000 |
3.4x Standard | Single: >= $500,000 Married Filing Jointly: >= $750,000 Married Filing Separately >= $393,000 | Single: >= $500,000 Married Filing Jointly: >= $750,000 Married Filing Separately >= $390,000 |
‎June 16, 2024
8:36 AM