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IRA amount to use for calculation

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Bybonusmon

L1: IRA amount to use for calculationDo I have to use the balance of the IRA as of Dec 31,2002 or can I use the balance as of the time of retirement? Does it Matter? What would you recommend. Thanks, Rick2003-04-03 06:33, By: bonusmon, IP: [127.0.0.1]
L2: IRA amount to use for calculationRev. Rul. 2002-62 Section 2.02(d) offers some flexibility in determining the balance to be used. In reality, you can use either balance for your calculation.

(d) Account balance. The account balance that is used to determine payments must be determined in a reasonable manner based on the facts and circumstances. For example, for an IRA with daily valuations that made its first distribution on July 15, 2003, it would be reasonable to determine the yearly account balance when using the required minimum distribution method based on the value of the IRA from December 31, 2002 to July 15, 2003. For subsequent years, under the required minimum distribution method, it would be reasonable to use the value either on the December 31 of the prior year or on a date within a reasonable period before that year”s distribution. 2003-04-03 06:41, By: Gfw, IP: [127.0.0.1]

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