TaxGuyBill
Level 15
05-13-2020
02:15 PM
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In regards to the Medicare adjustment, selling a house is NOT one of the situations that qualify for it. Sure, it is possible you could get someone to process it incorrectly, but a large increase of income is NOT a qualifying event. A loss of job income (selling the practice for George) is a qualifying event.
From the link above:
There are 7 qualifying life-changing events:
- Death of spouse
- Marriage
- Divorce or annulment
- Work reduction
- Work stoppage
- Loss of income from income producing property
- Loss or reduction of certain kinds of pension income