The Family Cabin Bought for $40,000 in 1979 Sold for $480,000.
Two Years Later, Medicare Sent Its Bill
Quick Read – Selling a vacation cabin triggers Medicare IRMAA surcharges two years later, catching retirees long after they’ve spent or reinvested the proceeds. – A $440,000 cabin gain pushed one couple’s joint MAGI to $540,000, costing roughly $12,710 in extra Medicare surcharges in a single year. – Form SSA-44 cannot reduce IRMAA from a voluntary property sale, but offsetting capital losses in the same tax year can lower the gain. – Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests.
Don’t waste another minute; learn more here. A retired couple in their late sixties sold their lakeside cabin in 2024. They bought it in 1979 for $40,000, listed it after decades of summers, and closed at $480,000.