I’ve minimized some KNOWN taxes, vs some maybe taxes if I need LT care?
I would disagree that you’ve ‘minimized some KNOWN taxes’ if you converted all of your Traditional accounts into Roth accounts, which is what you seem to imply. Even without taking into account the medical expense deduction, since Roth conversions are taxed at your marginal rate (including the possibility of kicking you into a higher bracket), it’s likely that if you had left money in Traditional accounts, at least some of the future withdrawals would be taxed at a rate that’s lower than your marginal rate(s) when you converted unless you managed do all of your conversions in year(s) when you had little/no other income, and stayed at or below the marginal rates that you saved when you made your contributions. If you did so, good for you. Most people who are still working don’t have that opportunity, and would pay a higher rate on at least some of their conversions than they saved on their contributions.
Personally, all of my Traditional contributions were made at a rate that was 25% or higher, so I consider any conversions at or below 25% to be ‘tax minimizing’, but if I were to do conversions in a bracket higher than 25%, it probably wouldn’t be ‘tax minimizing’.
*20 years ago qualified Roth IRA income did NOT increase taxable income, and supposedly did NOT trigger SS taxation.
I wasn’t aware of IRMAA 20 years ago.
There, fixed that for you.
Well, since IRMAA didn’t start until 2003, you wouldn’t have been aware of it 20 years ago. And since Roth IRAs weren’t even a thing until 1998, qualified Roth IRA withdrawals, which require that a Roth IRA be at least 5 years old, wouldn’t have even been available until 2003.
Does Roth income add to the income number that impacts SS taxation and/or IRMAA?
Income from qualified Roth withdrawals doesn’t currently count toward limits that are based on any type of MAGI. Income from non-qualified Roth withdrawals can count toward your AGI, and thus, toward MAGI. However, I would point out that for the first 48 years (1935 - 1983), SS wasn’t taxable, until it was, starting in 1984. Roths have only been around since 1998, and qualified Roth withdrawals have only been around since 2003, so that’s either 24 or 19 years, depending on how you want to count them. Once Congress starts seeing people with significant qualified Roth income paying little/no taxes on SS and not paying IRMAA premiums, who knows how long it will take before qualified Roth income starts being counted in some of the MAGI modifications? While they may not be directly taxing Roth income, having it count toward MAGI means it will be indirectly taxed, despite already having paid income taxes on the contributions/conversions and being promised that qualified withdrawals would not be taxed.