Fong Law Group

Deducting Long-Term Care Insurance Premiums in 2023

Are you a taxpayer who has purchased long-term care insurance (LTCI)? Take note of your policy details and your premium amount, as you may be able to deduct the cost – or at least part of it – from your 2023 income.

If your total eligible medical expenses (including your LTCI policy premium) for the year exceed 7.5 percent of your adjusted gross income, you may be able to take the amount of your LTCI policy premium as a deduction on your federal income tax return.

However, note that only certain LTCI policies qualify.

What Is Long-Term Care Insurance, and Do I Need It?

Long-term care insurance helps you cover costs for services you will likely need as you grow older, such as nursing home care or home health care.

According to LongTermCare.gov, U.S. seniors aged 65 today face a nearly 70 percent chance of requiring some form of long-term care later in life. In fact, almost a fifth of them will need it for more than five years.

Policies for this type of insurance can vary dramatically. Most will provide you with between $2,000 and $10,000 in funds each month, with premiums costing up to $5,000 a year. The younger you are when you purchase LTCI, the less pricey your annual premiums will generally be.

Keep in mind, too, that the average prices for long-term care have skyrocketed over time. For example, a private room in a nursing home will currently cost you more than $9,000 a month on average.

Unless you have very significant wealth, paying for LTCI may be well worth the cost, given how quickly long-term care can drain your retirement savings.

Can I Deduct My Long-Term Care Insurance Premium?

As mentioned above, only certain LTCI policies are tax-deductible. If your LTCI policy is considered “qualified” for tax deductibility, your total eligible medical expenses (including your LTCI policy premium) for the year also need to exceed 7.5 percent of your adjusted gross income in order you to be able to deduct your premium.

In addition, you are limited in how large a premium you can deduct. Read more about these caveats below:

1. Tax-Qualified Policies– To qualify for tax deductibility, your LTCI policy is required to meet specific rules, as outlined by the National Association of Insurance Commissioners (NAIC).
   
   If you purchased your policy before January 1, 1997, it is likely qualified. (Double-check with your insurance broker or their state’s insurance commission.)
   
   Policies purchased on or after January 1, 1997, have to meet a number of federal standards. Learn more about these standards on Page 9 of theNAIC’s Shopper’s Guide to Long-Term Care Insurance, available in PDF format.
2. Deduction Limits– The limit on your deduction depends on your age at year’s end. The IRS annually issues adjustments to these limits; it increased the 2023 tax-deductible limits by about 6 percent since 2022.

Note that if your annual premium amount for 2023 exceeds the limit provided in the table that follows, it will not be considered a medical expense:

Attained age before the close of the taxable year	Maximum deduction
Age 40 or under	$480 (up from $450)
Age 41 to 50	$890 (up from $850)
Age 51 to 60	$1,790 (up from $1,690)
Age 61 to 70	$4,770 (up from $4,510)
Age 71 and over	$5,960 (up from $5,640)

 

3. Other Caveats

• If you are self-employed, you can take the amount of the policy premium as a deduction if you made a net profit. Your medical expenses do not necessarily need to have exceeded 7.5 percent of your income.
• Most hybrid life insurance policies are typically ineligible for tax deductions.
• Note as well that benefits from per diem or indemnity policies, which pay a predetermined amount each day, are not included in income except amounts that exceed the beneficiary’s total qualified long-term care expenses or $420 per day (for 2023), whichever is greater.

For further details on these and other inflation adjustments, access the complete PDF from the IRS website.

Additional Resources

To get an idea of how much long-term care may cost you, visit Genworth’s Cost of Care online tool to calculate the cost of care where you live.

Be sure to seek out information from your attorney when it comes to evaluating your long-term care insurance needs as well as protecting your loved ones’ assets in the event that you do require long-term care. 

What is the Bankruptcy Means Test?

The Means Test is an income qualification tool used to determine if you are allowed to file a Chapter 7 bankruptcy or if you must file a Chapter 13 bankruptcy. Individuals with more than a certain income must file a Chapter 13 bankruptcy. A Means Test can determine who can file for Chapter 7 bankruptcy.

The Formula

The law now uses a standard mathematical formula to determine whether you can file for Chapter 7 — or, to put it in legal terms, whether filing for Chapter 7 would be an 'abuse' of the bankruptcy system. (Those who fail the means test are left with a Chapter 13 repayment plan as their only bankruptcy option.)

The bankruptcy means test is actually a two-part test and you only need to pass one of them to qualify for Chapter 7.

Test 1 - "Median Income"

This is a very simple test that compares your average household income for the past six calendar months to the median income for your state, if your income is below the median, you qualify for Chapter 7. If it is above the median, you must pass Test 2.

Test 2 - "Disposable Income"

This test deducts expenses from your income to determine how much you can pay your unsecured creditors over the next five years: for example (this example is just an example, each county and state is different);

• If you can pay at least $10,000 ($167 per month), you can't file for Chapter 7.
• If you can pay at least $6,000 ($100 per month) and that is at least 25% of what you currently owe your unsecured creditors, you can't file for Chapter 7.
• If your disposable income is less than $100 per month, you can file for Chapter 7.

Certain deductions are standard allowances based on the number of vehicles you operate, the number of people in your household, and the cost of living. Depending on which county you live in California, the amounts may change but the method of calculation will not.

In addition, to these standard deductions, you can also deduct the full amount of certain actual expenses such as mortgage and vehicle loan payments.

 

Are You Ready?

Contact Fong Law Group today for a free consultation at (626) 289-8299, and we will help determine which type of bankruptcy you qualify for.

What Type of Bankruptcy Do I Qualify For?

What Type of Bankruptcy Do I Qualify For?

There are two main types of bankruptcies for consumers:

Chapter 7 allows you to eliminate most unsecured debts in a matter of months in return for giving up all "non-exempt" property -- if you have any.

Most people, who file for Chapter 7, have no available non-exempt property or equity. Whatever they still own by the time they file is either protected by exemption laws, or pledged to a secured creditor as collateral for a debt and therefore not available to pay off unsecured creditors.

These are known as "no asset" bankruptcies, and most Chapter 7s are of this type.

Chapter 13 takes 3 to 5 years. Instead of giving up property, you repay a portion of your debts and live within a strict budget that is monitored closely by the bankruptcy court trustee. If you can't make the required monthly payments, your Chapter 13 bankruptcy fails and your debts will remain (unless you convert to a Chapter 7 bankruptcy).

Chapter 13 is commonly used by people who are behind on secured debt payments (e.g., mortgages) and want to propose a Chapter 13 plan to catch up on these payments over time.

Under the new bankruptcy law, which took effect in October 2005, a mathematical formula called the "means test" establishes an initial determination of the kind of bankruptcy you qualify for: Chapter 7, Chapter 13, or either. This formula takes into account:

• your monthly income
• the amount and kind of your debts, and
• other aspects of your financial situation

If your annual income is less than the California median income for your household size, then you can file for Chapter 7 or Chapter 13, (assuming you meet other qualifications). If your income is higher than the state median, you must first complete a long list of expense deductions to estimate what your 'disposable income' will be over the next five years. The result of this calculation determines whether you can file for Chapter 7, or are left with Chapter 13 as your only option.

Take the Bankruptcy Means Test to see if you qualify.

Contact Fong Law Group today for a free consultation at (626) 289-8299

Medicare Open Enrollment Starts October 15: Is It Time to Change Plans?

Medicare's Open Enrollment Period, during which you can freely enroll in or switch plans, runs from October 15 to December 7. Now is the time to start shopping around to see whether your current choices are still the best ones for you.  

During this period you may enroll in a Medicare Part D (prescription drug) plan or, if you currently have a plan, you may change plans. In addition, during the seven-week period you can return to traditional Medicare (Parts A and B) from a Medicare Advantage (Part C, managed care) plan, enroll in a Medicare Advantage plan, or change Advantage plans. 

Beneficiaries can go to www.medicare.gov or call 1-800-MEDICARE (1-800-633-4227) to make changes in their Medicare prescription drug and health plan coverage.

According to the New York Times, few Medicare beneficiaries take advantage of Open Enrollment, but of those who do, nearly half cut their premiums by at least 5 percent. Even beneficiaries who have been satisfied with their plans in 2020 should review their choices for 2021, as both premiums and plan coverage can fluctuate from year to year. Are the doctors you use still part of your Medicare Advantage plan’s provider network? Have any of the prescriptions you take been dropped from your prescription plan’s list of covered drugs (the “formulary”)? Could you save money with the same coverage by switching to a different plan?

For answers to questions like these, carefully look over the plan's "Annual Notice of Change" letter to you. Prescription drug plans can change their premiums, deductibles, the list of drugs they cover, and their plan rules for covered drugs, exceptions, and appeals. Medicare Advantage plans can change their benefit packages, as well as their provider networks.  

Remember that fraud perpetrators will inevitably use the Open Enrollment Period to try to gain access to individuals' personal financial information. Medicare beneficiaries should never give their personal information out to anyone making unsolicited phone calls selling Medicare-related products or services or showing up on their doorstep uninvited. If you think you've been a victim of fraud or identity theft, contact Medicare. 

Here are more resources for navigating the Open Enrollment Period:

• Medicare Plan Finder, which helps you find a plan to match your needs: www.medicare.gov/find-a-plan
• Medicare coverage options: https://www.medicare.gov/medicarecoverageoptions/
• The 2020 Medicare & You handbook, which all Medicare beneficiaries should have received. The handbook can also be downloaded online at:  medicare.gov/forms-help-resources/medicare-you-handbook/download-medicare-you-in-different-formats
• The Medicare Rights Center: www.medicareinteractive.org

Your State Health Insurance Assistance Program, which offers independent counseling: https://www.shiptacenter.org

How Your Stimulus Check Affects Medicaid Eligibility

The coronavirus relief bill includes a direct payment to most Americans, but this has Medicaid recipients wondering how the payment will affect them. Because the payment is not income, it should not count against a Medicaid recipient’s eligibility. 

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a one-time direct payment of $1,200 to individuals earning less than $75,000 per year ($150,000 for couples who file jointly), including Social Security beneficiaries. Individuals earning up to $99,000 ($198,000 for joint filers) will receive smaller stimulus checks. Payments are based on either 2018 or 2019 tax returns.  

The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home. If the stimulus payment were considered income, it would likely have to go straight to the nursing home. Since in most states Medicaid recipients cannot have more than $2,000 in assets, there was also concern that the stimulus payments could put many recipients over the asset limit. 

In a blog post, the commissioner of the Social Security Administration (SSA) has clarified that the SSA will not consider stimulus payments as income for Supplemental Security Insurance (SSI) recipients, and the payments will be excluded from resources for 12 months. Because state Medicaid programs cannot impose eligibility requirements that are stricter than SSI requirements, the payments should not affect Medicaid eligibility.

How Does Medicaid Treat Income?

The basic Medicaid rule for nursing home residents is that they must pay all of their income, minus certain deductions, to the nursing home. The deductions include a $60-a-month personal needs allowance (this amount may be somewhat higher or lower in your state), a deduction for any uncovered medical costs (including medical insurance premiums), and, in the case of a married applicant, an allowance for the spouse who continues to live at home if he or she needs income support. A deduction may also be allowed for a dependent child living at home.

In determining how a Medicaid applicant's income affects his or her eligibility for nursing home coverage, most states use what is known as the "medically needy" or "spend-down" approach.  These states allow the applicant to spend down their income on their care until they reach the state's income standard for eligibility, at which point Medicaid will begin covering their care.  In this way, those with incomes that exceed Medicaid's thresholds can still qualify if they have high medical expenses, assuming they meet Medicaid's other requirements.

But some states set a hard limit on the income permissible to qualify for Medicaid -- no spend-down is allowed.  In these states, known as "income cap" states, eligibility for Medicaid benefits is barred if the nursing home resident's income exceeds $2,349 a month (for 2020), unless the excess income above this amount is paid into a "(d)(4)(B)" or "Miller" trust. If you live in an income cap state, contact your attorney to set up a trust. The income cap states as of this writing are: Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Idaho, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Nevada, New Mexico, New Jersey, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Texas, and Wyoming.

For Medicaid applicants who are married, the income of the healthy spouse living in the community (the “community spouse”) is not counted in determining the Medicaid applicant's eligibility. Only income in the applicant's name is counted in determining his or her eligibility. Thus, even if the community spouse is still working and earning, say, $5,000 a month, he or she will not have to contribute to the cost of caring for his or her spouse in a nursing home if the spouse is covered by Medicaid.

New year, new tax updates. What you need to know for 2020

KEY POINTS

• Put up to $19,500 in your workplace 401(k) plan, plus another $6,500 if you’re 50 and over in 2020. This also lowers your taxable income.
• The standard deduction for single filers will be $12,400. It rises to $24,800 for married couples filing jointly.
• Giving away wealthy? An individual can transfer up to $11.58 million free of estate and gift taxes in 2020.

Standard Deduction

Pay attention to your standard deduction for the 2020 tax year.  The IRS has bumped it to $12,400 for singles, up from $12,200 in the prior year. 

The standard deduction for married joint filers will be $24,800 up from $24,400 in 2019. 

Workplace Retirement Savings

Resolve to save a few extra dollars in your retirement account at work. 

The IRS has raised the employee contribution limit for 401(k), 403(b) and most 457 plans to $19,500, up from $19,000 in 2019. 

If you’re 50 or older, you can save an additional $6,500.  That’s up from $6,000 in 2019. 

The contribution limit for individual retirement accounts, whether traditional or Roth, is holding steady at $6,000, plus another $1,000 for savers 50 and over. 

One caveat: The IRS limits high-income earners’ ability to make direct contributions to Roth IRAS-accounts in which you can save after-tax dollars, have the money grow tax-free and use it in retirement free of taxes. 

In 2020, if you adjusted gross income exceeds $124,000 and you are single ($196,000 for married couples filing jointly), you won’t be able to make a full contribution directly to a Roth IRA. 

Instead, those savers might consider using a strategy known as the “backdoor Roth”, where they make a nondeductible contribution with after-tax dollars to a traditional IRA and then covert it to a Roth. 

Health Saving Opportunities

Got a high deductible plan in 2020? You most likely have access to a health savings account. 

These accounts allow you to put away pretax or tax-deductible money and have it grow free of taxes.  You can take a tax-free withdrawal to cover qualified health expenses. 

In 2020, you can save up to $3,550 if you’re an individual with self-only health coverage.  That’s up from $3,500 in 2019.  Account holders with family plans can save up to $7,100 in this account (up from $7,000 in 2019). 

Gift and Estate Tax Savings

Good news for people sitting on millions of dollars: The Tax Cuts and Jobs Act nearly doubled the amount that decedents can bequeath in death-or gift over their lifetime-and shield it from federal estate and gift taxes, which are 40%.

Before the tax overhaul, the gift and estate tax exemption was $5.49 million per person. 

For 2020, the lifetime gift and estate tax exemption will be $11.58 million per individual, up from $11.4 million in 2019. 

Finally, the annual gift exclusion-the amount you can give to any other person without it counting against your lifetime exemption-will hold steady at $15,000 for 2020.

IRS Issues Long-Term Care Premium Deductibility Limits for 2020

The Internal Revenue Service (IRS) has announced the amount taxpayers can deduct from their 2020 income as a result of buying long-term care insurance.

Premiums for "qualified" long-term care insurance policies (see explanation below) are tax deductible to the extent that they, along with other unreimbursed medical expenses (including Medicare premiums), exceed 10 percent of the insured's adjusted gross income.  

These premiums -- what the policyholder pays the insurance company to keep the policy in force -- are deductible for the taxpayer, his or her spouse and other dependents. (If you are self-employed, the tax-deductibility rules are a little different: You can take the amount of the premium as a deduction as long as you made a net profit; your medical expenses do not have to exceed a certain percentage of your income.)  Additionally, these tax deductions allowed by the IRS for long-term care insurance premiums are generally not available with so-called hybrid policies, such as life insurance and annuity policies with a long-term care benefit. 

However, there is a limit on how large a premium can be deducted, depending on the age of the taxpayer at the end of the year. Following are the deductibility limits for tax year 2020. Any premium amounts for the year above these limits are not considered to be a medical expense.

Attained age before the close of the taxable year	Maximum deduction for year
40 or less	$430
More than 40 but not more than 50	$810
More than 50 but not more than 60	$1,630
More than 60 but not more than 70	$4,350
More than 70	$5,430

Another change announced by the IRS involves benefits from per diem or indemnity policies, which pay a predetermined amount each day.  These benefits are not included in income except amounts that exceed the beneficiary's total qualified long-term care expenses or $380 per day, whichever is greater.

For these and other inflation adjustments from the IRS, click here. 

What Is a "Qualified" Policy?

To be "qualified," policies issued on or after January 1, 1997, must adhere to certain requirements, among them that the policy must offer the consumer the options of "inflation" and "nonforfeiture" protection, although the consumer can choose not to purchase these features. Policies purchased before January 1, 1997, will be grandfathered and treated as "qualified" as long as they have been approved by the insurance commissioner of the state in which they are sold. 

Yes, You Have to Pay Taxes on Social Security—Sometimes

“So, your friend or relative who tells you they don’t have to pay any income tax on their Social Security may be correct—for themselves. But that may not be true for you.”

It’s like listening to your know-it-all brother-in-law bragging about how much he’s made on a stock, when you know full well that his financial situation is bad. Some people do have to pay taxes on their Social Security benefits. But some, as reported in the Tyler Morning Telegraph’s news story “Plan Retirement Right: Social Security and Income Taxes,” don’t.

Seems counter-intuitive. After all, didn’t you work all those years and weren’t those benefits supposed to be yours, tax free? The Internal Revenue Service determines who has to pay income tax on Social Security benefits, and they do so, using a number known as “Combined Income.” That’s a number unique to you and your spouse that determines whether a portion of those benefits are taxable. It’s not the same as another IRS number you may know all too well—your AGI or Adjusted Gross Income.

Here’s how you calculate it:

Adjusted Gross Income + Nontaxable Interest + HALF of your benefits = Combined Income.

You’ll also need to consider a few situations, where you may end up owing taxes on some portion of your Social Security benefits:

• If you file taxes as an Individual and your combined income is anywhere from $25K up to $34K, you might owe taxes on as much as half of your benefits.
• Or, if you file taxes as an individual and your combined income is over $34K, you may owe as much as up to 85% of your Social Security benefits.

Joint filers, “married, joint,” may owe taxes, if the combined income for you and your spouse is anywhere from $32K to $44. You may owe taxes on up to 50% on your Social Security. If the Combined Income for you and your spouse is more than $44K, you may owe taxes on up to 85% of your Social Security benefits.

Even if you file taxes “married, separate,” the IRS says it’s likely that you’ll be paying taxes on benefits.

Here’s how to handle this unwelcome tax burden:

Estimated Tax Payments. If you’ve been self-employed, you may be accustomed to doing this every quarter. You’ll have to be disciplined to make sure to set aside funds and pay on time.

Withholding. Some people have Social Security withhold the portion of the amount they would otherwise have to pay taxes on. This works well for people who have been employed and are used to having someone else manage their deductions. You’ll need to use IRS Form W4-V and select from a few different levels of deductions: 7%, 10%, 12% or 22%.  

Reference: Tyler Morning Telegraph (Dec. 26, 2018) “Plan Retirement Right: Social Security and Income Taxes”

Mid-Year Tax Planning: What Retirees Should Do Right Now 年中稅務籌劃：退休人員現在應該做些什麼 (中英對照)

“Halfway through the tax year is always a good time to assess where you stand with Uncle Sam. You can see how the year’s tax bill is taking shape, while you still have plenty of time to make tax-saving moves.”

This year is particularly important to do a mid-year tax review, because the new tax law may have changed your tax picture. If you’re not looking ahead, according to Kiplinger’s article “Midyear Moves for Retirees to Rein In Their Tax Tabs,” you may miss some critical opportunities.

Some taxpayers will find that they owe less taxes this year, while some will owe more. You might decide to switch from itemizing to taking the increased standard deduction. It’s also possible that you’re not going to pay the AMT (alternative minimum tax) this year.

Ramp Up Your Nest Egg. Are you still working? Then max out contributions to your retirement funds to help lower your taxable income. If you are 50 and older this year, you can put away as much as $24,500 in a 401(k) and $6,500 in an IRA.

Build Health Savings Accounts. If you have an HSA, be smart and put away as much as you can. Workers with HSA-qualified health coverage can contribute $6,900 in 2018 and those with self-only coverage can squirrel away as much as $3,450. If you’re 55+, you can put in an extra $1,000. HSAs are a great tax saving tool: the money goes in pre-tax, grows tax-free and when used to pay qualified medical expenses, is withdrawn tax-free.

Consider Your Deduction Strategy. The standard deduction in 2018 is rising to $12,000 for singles and $24,000 for marrieds filing jointly, so this is the year to figure out whether to itemize. Tax reform has also limited itemized deductions. The write off for state and local income, sales and property taxes is now capped at $10,000. Seniors (65 and up) can still take an extra standard deduction of $1,300 per person for joint filers and $1,600 for singles. For a married senior couple, itemized deductions would have to be more than $26,600. If the couple uses the full $10,000 write off for state and local income, sales and property taxes, they have to come up with more than $16,600 in deductions to save by itemizing.

Medical Expenses. The medical expense deduction is still in place.  It is better in 2018, since the threshold dropped to 7.5% of adjusted gross income. Next year, that threshold rises to 10%. If possible, you should consider bunching medical costs into 2018, so that you can take advantage of that lower threshold.

Roth IRAs. Putting money in a Roth this year won’t cut your 2018 taxes.  However, if you expect tax rates to climb, now is the time to put money in a Roth and pay taxes now, rather than later. Tax reform took away the ability to reverse a Roth conversion starting in 2018, so wait until the end of the tax year when you have a clearer vision of your numbers to do any conversions.

Reference: Kiplinger (June 29, 2018) “Midyear Moves for Retirees to Rein In Their Tax Tabs”

年中稅務籌劃：退休人員現在應該做些什麼

 “納稅年度的中途總是評估你與山姆叔叔的立場的好時機。您可以看到年度稅收法案如何形成，而您仍有充足的時間進行減稅措施。”

今年對於進行年中稅務審查尤為重要，因為新的稅法可能會改變您的稅務狀況。如果你不向前看，那麼根據Kiplinger的文章“Midyear Moves for Retirees to Rein In Their Tax Tabs,” (中年移民退休人員加入稅收選項卡) 你可能會錯過一些關鍵的機會。

一些納稅人會發現他們今年欠的稅較少，而有些人則欠更多稅。您可能決定從逐項切換到採用提高的標準扣除。你今年有可能不用支付AMT（最低稅來替代）。

加速你的窩蛋。你還在工作嗎？然後，最大限度地提供退休基金的捐款，以幫助降低您的應稅收入。如果你今年年齡在50歲以上，你可以在401（k）和6, 500美元的IRA中獲得高達24, 500美元的稅務豁免。

建立健康儲蓄賬戶。如果您有HSA，要聰明並儘可能地收起。擁有HSA資格的健康保險的工人在2018年可以捐贈6,900美元，而那些只有自我保險的人可以多花3,450美元。如果你是55歲以上，你可以額外得到1,000美元。HSA是一個很好的節稅工具：這筆錢用於稅前，增加免稅，當用於支付合格的醫療費用時，可以免稅。

考慮您的扣除策略。在2018年單身人士的標準扣除額增加到12,000美元和已婚人士共同申請增至到24,000美元，所以今年要弄清楚是否可以逐項列出。稅制改革也限制了逐項扣減。國家和地方收入，銷售和財產稅的註銷現在上限為10,000美元。老年人（65歲以上）仍然可以為聯合申報者額外扣除1,300美元的標準扣除額，單身人士則需要1,600美元。對於已婚夫婦，逐項扣除額必須超過26,600美元。如果這對夫婦使用全額10,000美元的州和地方收入，銷售稅和財產稅，他們必須拿出超過16,600美元的扣除額才能通過逐項列出來節省。

醫療費。醫療費用扣除仍然還在。由於門檻降至調整後總收入的7.5％，因此在2018年更好。但明年，該門檻上升至10％。如果可能的話，您應該考慮將醫療費用匯總到2018年，這樣您就可以利用這個較低的門檻。

羅斯IRA。今年投入資金在羅斯是不會減少2018年的稅收。但是，如果你期望稅率上升，現在是時候把錢投入羅斯並立即納稅，而不是以後。從2018年開始，稅制改革取消了扭轉羅斯轉換的能力，所以請等到納稅年度結束時，您可以更清楚地了解您的數字，以進行任何轉換。

參考: Kiplinger (June 29, 2018) “Midyear Moves for Retirees to Rein In Their Tax Tabs”