Medicare cost after inheritance…
Hi Terry, my monthly Medicare cost triple this year because of a one time inheritance that was on my tax return. Do you know if there is a way to get this lowered immediately now that my retirement income is back to where is was prior to my inheritance. Someone told me it will go back down, but not for 12 months. Thank you…
Terry Says
Wait. An inheritance does NOT go on your tax return? How did that happen??
And if you inherited property, then sold it, there would be no tax or capital gain, because the cost basis is the value at the date of the inheritance.
So please write back and tell me exactly WHAT it was that increased your income on a one-time basis.
