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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121169  
Subject: Re: Coverdell documentation Date: 12/4/2012 9:28 PM
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Mr Goofy I urge you to be very careful here for Un-intended consequences. My wife and I handle affairs for a friend who had a stroke. Our friend decided to donate funds from her traditional IRA to a charity. All the official Schwab forms were filled out. Check when directly from Schwab to charity. Schwab checked a box saying 'tax liability not determined' on the IRA's 1099. Tax accountant handled this just like a normal IRA distribution and listed the funds as a donation. So no Federal income tax. But those funds were listed in the AGI line. That lead to the MAGI for Part-B purposes being increased.

Sounds like the accountant made a mistake and should amend the return. Then you could argue with SSA about the Medicare Part B rate.

Ira
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