@mickstuder wrote:
Don't thank me yet
SSA Form 44 - Medicare Income Related Monthly Adjustment Amount - "Life Changing Event" - seems to be applicable in our situation
Our Income is only going to exceed the cap for one year - this year - because my wife had to cash in accrued paid time off over a 25 year career - retirement bonuses - 401k loan payoffs etc.
After this year we will once again be poor - so don't make any plans for our increased monthly payments yet!
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I wish you had said that in the beginning - I thought you were now rich.
Yes, you should be able to get an adjustment for this type of single year income.
Remember SSA will not know about your 2019 taxes until about 2021 - they should send you a notice at that time and that is when you file SSA Form 44.
Your notice of this matter maybe posted sooner on your mySocialSecurity.gov account than receiving it by mail.
There is a new 2019 Form but make sure when you file it in about 2021 that you use the most current Form 44 available at the time.
Just compute your taxes for 2019 as per the instructions - You will have to pay tax on your SS benefits because this money your wife received when she retired will be considered income for the MAGI - I believe it will be shown on her W-2.
Happy Travels.
It's Always Something . . . . Roseanna Roseannadanna