I have a question related to earlier lump sum post.
I received a S.S. lump sum for 2024 and a notice of increased monthly benefits for 2025. Combined, it puts my 2025 estimated AGI about $2500 over IRMAA's 2025 Tier I limit. Wasn't expecting that huge benefit increase.
Would be great if I could apply that lump sum to my 2024 return. I had a lower AGI in 2023 and 2024. I would still have to pay the taxable amount in 2025, but assume my benefits for 2025 would then be reduced? Hense lower MAGI ?
Could I somehow do that?
I tried the suggested worksheets in Pub 915. Confusing. I can try that again.
Note: My taxable S.S. has been 85% all 3 years.