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Submitted By: someone
Answered: May 30, 2018 11:38 pm
Answered: May 30, 2018 11:38 pm
How can I know whether I’ll be subject to the Medicare surcharge next year?
Medicare beneficiaries with modified adjusted gross income (MAGI) over a set amount ($85,000 for single individuals and $170,000 for married persons filing jointly) pay an additional Part B and Part D premium. MAGI in 2017 is what is used to determine whether there’s an additional premium in 2019. MAGI for this purpose means your adjusted gross income plus tax-exempt interest income.
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Tax Glossary
Amount recognized
The amount of gain reportable and subject to tax. On certain tax-free exchanges of property, gain is not recognized in the year it is realized.
