Hi everybody,
With regards to Roth Conversions,
I am playing around with the idea of only taking Part A Medicare from age 66 - 72, and then from age 73 adding Part B. If I understand Pralana correctly, If I want the Roth conversion analysis to work correctly, I have to enable 'figure IRMAA taxes,' but then Part B will be presumed from age 65 onwards.
Do I understand the restriction correctly ? Can I set Pralana to match my intent ? My only thought is to turn the calculation on, and give myself back the Part B costs. Clumsy to be sure, and the taxes would be wonky, no ?
Agreed. I have the same issue. I am over 65 but still on a company health plan, so we're not subject to IRMAA. While IRMAA is determined from the MAGI 2 years prior, if you quit working or reduce hours, you can get a redetermination to pick the following year or the current year as the basis. In other words, if covered by a health plan from work (except COBRA), you can do Roth Conversions without worrying about future IRMAA charges. Pralana doesn't handle that well.
So I wish I could turn IRMAA off selectively or perhaps it could be a toggle Employment Income.
For now, I look at the excess IRMAA charge and manually enter a non-taxable windfall of that amount in the affected year(s), but it makes doing Roth Calculations super tedious.
Great idea for an improvement suggestion to help those of us that seem to retire.
@ricke OK, I'm hearing you guys. We'll add this to our enhancement list and then figure out how to prioritize the implementation.
Stuart
