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Final Year Distribution  


Eskimos
Posts: 2
(@eskimos)
Active Member
Joined: 2 months ago

Date of Birth: 10/06/1960
Age: 59
72t Method: Amortization
72t Distribution Start Date: 09/28/2011

Hi,

My question concerns the final year distribution.  I took the first distribution on 09/28/2011.  I then took annual distributions on Jan of 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2020.  I will turn 60 on Oct 6, 2020 and wanted to confirm that I have met the requirements and can now stop any further distributions.

Thank you.

 

 

2 Replies
dlzallestaxes@msn.com
Posts: 52
(@dlzallestaxesmsn-com)
Illustrious Member
Joined: 1 year ago

YES. You completed your plan on 4/6/2020. You can do anything you want since then, and were not even required to take any distribution in 2020 because your plan ended (and not because of the CARES ACT, which specifically did not allow SEPP 72-T plans to waive 2020 distributions).

Reply
Eskimos
Posts: 2
(@eskimos)
Active Member
Joined: 2 months ago

Yes!! Thank you so much for your quick response!  I greatly appreciate your assistance.

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