topic Roth Conversion, IIRMA, and Big Beautiful Bill ... What product? in Deductions & credits

Roth Conversion, IIRMA, and Big Beautiful Bill ... What product?

gwalls2002 — Sat, 26 Jul 2025 17:06:32 GMT

What tax planning tools / products do you have? I have to decide how I will disburse retirement savings, whether to roll IRA to Roth and don't want to get tripped up by IIRMA (Medicare Penalty) or the recently signed Big Beautiful Bill. The ideal solution would let me enter projections for the next 3-4 years and show the tax implications (including IIRMA penalties).

Re: Roth Conversion, IIRMA, and Big Beautiful Bill ... What product?

LenaH — Sat, 26 Jul 2025 21:03:30 GMT

There are currently no products available that provide multi-year forecasting or tax planning beyond the upcoming year. The calculators available have not yet been updated to reflect the OBBBA changes.

Re: Roth Conversion, IIRMA, and Big Beautiful Bill ... What product?

NCperson — Sat, 26 Jul 2025 22:12:22 GMT

@gwalls2002 nothing in the OBBB will impact how IRMAA is calculated.

None of the changes are going to affect Line 11 (AGI) which determines IRMAA.

All the changes (Senior deduction, overtime, tips, car loan interest) will be subtracted from the current Line 11 (AGI) and result in a lower current line 14 (taxable income)

Not sure how you could get 'tripped up' by the new tax bill - it lowers or maintains taxes; it shouldn't increase them.

this is an excellent website related to IRMAA:

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