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Level 2
July 15, 2021
Question

Social Security

  • July 15, 2021
  • 1 reply
  • 0 views

 I began receiving social security payments in January of this year, receiving my first deposit in February.  Will the tax reporting document received from Social Security for 2021 contain 12 months or 11 months of payments?

 

85% of my earnings will be taxable.   Can you tell me if Medicare will use 85% or 100% of Social Security reported earnings when determining my Modified Adjusted Gross Income for the purpose of determining my IRMAA?

 

 

 

    1 reply

    ljmurrayAuthor
    Level 2
    July 15, 2021

    Thank you.  The months delay is how SSA works -- the payment for one month is not paid until the following month.