I took financial advice from a banker to convert a traditional (not Roth) IRA from non-deductive (IRS form 8606) principle and convert the nondeductible portion into a Roth IRA after being told he had done it many times and that the conversion would not incur tax since it was pretax income. The truth when I filed my TurboTax was that the conversion required a ratio of pretax and post tax dollars in all of my IRAs to be calculated resulting in a large unexpected income tax in 2024. My MAGI was also markedly increased well over the married filing jointly $212,000 MAGI income limit for IRRMA. As a result I expect to pay much more for medicare in 2026. My prior MAGI income for 2021, 2022, and 2023 were well under the IRRMA limit and my 2025 income will also be well under the limit. I had no "life changing event" other than bad advice for this Roth conversion. Can I still file a form SSA-44 with any hope of consideration?
Once your IRMAA is imposed, you can submit the Form to inform SS that your income has returned to normal the following year. See intructions for Step 2-3.