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MD & Recalculation

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ByMark

L1: MD & RecalculationI am getting conflicting advice on using the minimum distribution method. It was my understanding that you calculate the amount and that amount you withdraw each year. In the WSJ Sunday of 10/20/2002 (ENCORE)it stated that under this method you recalculate it every year based on new balance and life expectancy. Which is correct?2002-10-28 17:12, By: Mark, IP: [127.0.0.1]
L2: MD & RecalculationThis is a response to a message posted in our Guestbook. Since it could be of general interest, I posted the question and the response here.
The Minimum Distribution Method always (this part remains unchanged by 2002-62)recalculates annually. As part of the written SEPP plan, you should outline the date the assets will be valued and the date the recalculation will be made. You don’t have to file it with anyone, just keep it as part of your records.
You should also check with your IRA Trustee/Custodian – they should be familiar with the calculations.
2002-10-28 17:17, By: Gfw, IP: [127.0.0.1]

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