Man, the Social Security laws are written to screw you if [View all]

[sinkingfeeling]

you happen to inherit some money. In 2018, in accordance with my sister's trust, we had to cash in her IRA and the proceeds went into the trust. Since I received 50% of the trust, I had to pay like $14,000 in federal taxes on $53,000 in additional income. Fine, I get that.

But I get a letter from SS and my part B Medicare for 2020 will be double the $144.60 premium based on my one-time income jump. Their letter says you can ask for a review if your normal income is lower based on 5 or 6 circumstances. It states, "We cannot make a new decision if your income changed for a reason other than those listed above, such as receiving one-time income from capital gains."

So, for the next year, I will pay $289.20 per month for Part B.

Be forewarned.