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Level 1
posted Nov 10, 2023 8:37:40 AM

Can i estimate or model by 2023 taxes?

I wish to do Roth conversions up to my IRMMA limit...

0 3 518
3 Replies
Level 15
Nov 10, 2023 9:30:32 AM

@dmertz

Level 15
Nov 10, 2023 11:16:05 AM

For accurate results, my suggestion is to use the CD/download version of TurboTax to prepare a simulated tax return, paying attention to the sum of AGI on Form 1040 line 11 plus the amount of any tax-exempt interest on line 2a.

Level 15
Nov 10, 2023 5:41:15 PM

@Michael 505 either use the download version of TT 2023 or use this website: 

 

https://www.dinkytown.net/java/1040-tax-calculator.html

 

also, remember that IRMAA tiers for 2025 won't be set until next October, so be mindful not to cut your 2023 MAGI too close to the tranche limit.

 

this website is excellent: 

 

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