My wife & I are both retired and took our RMDs. She made about $42,000 and I made about $172,000.
So, our MAGI is about $214K to $220K filing jointly
As our joint income is expected to surpass the standard threshold for Medicare standard premium and IRMAA is likely to kick in.
Now our pre-tax retirement accounts are also going up now and would need to take more RMDs.
Since our joint income has just pass the threshold, it would be wise to convert some of our pre-tax account to Roth so that it would stay below for RMDs in future years.
The facts are next 2026 MAGI Bracket is $218K to $274K, and we have to pay $96 more each for Medicare Premiums B&D. But there is only $56K leeway to convert so as not to get pass $274K.
Next level 2026 MAGI Bracket is $274K to $342K, and have to pay $240 more each for M P, and higher tax bracket which is not viable to exceed that MAGI threshold.
I know I can use TT to run our tax returns to see which filing would save more. Just wonder anyone has a pre-thought experience or advice on that? Thanks
