“Last year I rolled a qualified annuity (IRA) into a new annuity that I thought had better features. Since the funds were rolled over, they’re not taxable, but I got a 1099 from the original annuity company. My “cheap” tax software added this into my adjusted gross income. My understanding is, this is the line Social Security looks at to increase my Medicare Part B premium. Am I worrying for nothing? Am I going to take a year-long hit on Medicare premiums because of this?”
Gene answers your neighbors financial questions on More than Money.
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