TurboTax

File with experts
File your taxes
Experts at your fingertips

An expert helps with your taxes, or does them for you
TurboTax Expert Full Service

TurboTax Expert Assist

TurboTax Self-Employed
Prior year taxes
File myself
File myself
Do it yourself

We'll guide you step-by-step
TurboTax Do It Yourself

TurboTax Self-Employed

TurboTax Desktop
TurboTax Free

Activate your product

Prior year taxes
Business
Business
Business taxes

Get your T2 corporate return done right, your way
TurboTax Business

TurboTax Business Desktop
Tax situations
Tax situations
Tax situations

Find extra guidance for your big life moves
For investors

For 25 and younger

For self-employed

For new to Canada

For life changes
Resources
Resources
Resources

Explore tax tools, get tips, and read reviews
Personal income tax calculator

RRSP savings calculator

Learning hub

TurboTax support (FAQ)

TurboTax community
Pricing

Level 1

Solved

Medicare Increases due to Roth conversions

4 replies
69 views

I will be jumping to the 24 % tax bracket for 2024. My financial advisor talked me about a Roth conversion.

IF I do convert and stay well below the high limit for 24% will that affect my Medicare costs?

Not A Product Question

Level 15

If you are asking about the Medicare surcharge, that has its own brackets. See here.

https://kindnessfp.com/medicare-irmaa-brackets/#2024_Part_B_Medicare_IRMAA_Bracket

Answer

Level 15

If you are asking about the Medicare surcharge, that has its own brackets. See here.

https://kindnessfp.com/medicare-irmaa-brackets/#2024_Part_B_Medicare_IRMAA_Bracket

Level 15

The link that Bsch4477 provided shows the IRMAA brackets for 2024. It has also not been updated to show the 2025 IRMAA brackets that are now fully determined, so it is an outdated reference.

Your 2024 MAGI for the purpose affects your 2026 IRMAA and the IRMAA brackets for 2026 will not be known for certain until September 2025. The following link provides guesses for the 2026 IRMAA brackets and gets updated every month when the CPI for the previous month is announced:

https://thefinancebuff.com/medicare-irmaa-income-brackets.html#htoc-2026-irmaa-brackets

Level 15

@dmertz How does it work when changing from Joint to Single? My husband died in 2023.

My IRMAA for 2024 of an extra 174.70 + 33.30 part D was right based on 2022. Should I have told them I was Single in 2024?

Now for 2025 according to SS I'm not paying any IRMAA, just the basic $185. ~~But based on 2023 (Joint) I should be paying IRMAA. Or do they know husband died in 2023?~~

UPDATE: Just noticed that my 2023 Joint MAGI is under the Standard Part B Premium amount, Whew.

But actually my IRMAA should go way up since my Single MAGI is still the same or more than my Joint MAGI was. My income didn't go down, I continue to get the same pension that my husband had (he had a good state pension). So I get a free year before they use my 2024 Single return for 2026?