Rob
I would think that any net winnings over $ 3,000 would offset Medicare
increase depending upon the amount of W2 G's.. A $ 10,000 net win for year
with $ 50,000 in W2 G's would definitely benefit player even if they had to
pay more in Medicare premiums.
J. T.
_____
From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com] On Behalf Of
rob.singer1111@yahoo.com
Sent: Monday, February 20, 2012 5:55 PM
To: vpFREE@yahoogroups.com
Subject: Re: [vpFREE] Re: DIAD (long and probably too much info for most)
I thank you for that clear info. One last question since you've been
directly affected and I haven't been involved in SS income or Medicare yet:
If you get $50,000 in W2G's this year and assuming you're a net winner of
$10,000, about how much does that affect your Medicare payments?
I know I'm assuming much here, but I do look at players who receive W2G's as
having won something after their losses are deducted. At least that's the
way it has always been for me. But if a player gets a pile of W2G's and
still loses by year's end, I'm guessing that does adversely affect those
Medicare premiums, which in turn makes those jackpots not worth hitting. Am
I on the right track?
Sent from my Verizon Wireless 4GLTE smartphone
----- Reply message -----
From: "Jan Spornhauer" <janspornhauer@sbcglobal.net
<mailto:janspornhauer%40sbcglobal.net> >
To: <vpFREE@yahoogroups.com <mailto:vpFREE%40yahoogroups.com> >
Subject: [vpFREE] Re: DIAD (long and probably too much info for most)
Date: Mon, Feb 20, 2012 1:55 pm
Rob
What he is talking about is the Medicare portion of SS. Medicare premiums
are adjusted based upon ones AGI. Mine have been impacted over the past 3
years because of significant W2 G's.
J. T.
_____
From: vpFREE@yahoogroups.com <mailto:vpFREE%40yahoogroups.com>
[mailto:vpFREE@yahoogroups.com <mailto:vpFREE%40yahoogroups.com> ] On Behalf
Of
rob.singer1111@yahoo.com <mailto:rob.singer1111%40yahoo.com>
Sent: Monday, February 20, 2012 3:33 PM
To: vpFREE@yahoogroups.com <mailto:vpFREE%40yahoogroups.com>
Subject: Re: [vpFREE] Re: DIAD (long and probably too much info for most)
How do SS payments change when you are getting W2G's? They are not figured
into the formula for determining how much a person receives for their SS
benefit unless you file as a business, ie, professional gambler. Are you
also working?
I know AGI affects people who get W2G's, but I've never heard of that making
a $4000 win translate it into costing them anything net.
____________________
From: "lfcmja@verizon.net <mailto:lfcmja%40verizon.net>
<mailto:lfcmja%40verizon.net> "
I recently turned 65 and saw my SS benefits drop in spite of the recent cola
increase, due to a higher AGI caused by my casino W2G's.
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