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Last seen: Jan 14, 2023
Are you sure? From the updated guidance last year:/p> "The account balance will be treated as determined in a reasonable manner if it is the account...
Thank you. I rounded down a little to make it a round number - so I will be using an interest rate of 4.720073% to make the numbers work. I can't pa...
I think I found my answer here/p> (c) The account balance is decreased by distributions made in the valuation calendar year after the valuation date...
@grege This looks huge to me - it means a ~64% increase in the distribution I can take out. Hope there's not something I'm missing.
Okay - I'm averse to wasting money so I ended up re-depositing the distribution under the 60-day rollover rule. Now it's like there never was a SEPP i...
@dlzallestaxesmsn-com For #1: I would treat it as an unqualified withdrawal in 2021 and pay the 10% penalty for 2021 - as far as anyone knows there ...
Yes, thanks for catching this, David. I'm a little confused how such a fundamental error in SEPP planning could be perpetuated on this site for so lon...
@dlzallestaxesmsn-com On the IRS website, it doesn't say anything about the current month, it says: 3. How are interest rates determined? You may us...
@dlzallestaxesmsn-com But if I took the disbursement in December, can I use the December rate? Or does it have to be November or October? This website...
@david8818 Thanks for noting this - on the IRS website I read it the same as you. But on this site, it says "either the current month or the preceding...
@tracy Very helpful, thank you! I figure taking the extra payment this year as well as the life expectancy table change will offset the opportunity co...
@dlzallestaxesmsn-com Thank you for the tips. I intended to write that I need the $25,463 before taxes (I can pay the tax out of that amount).
@twilliam Thanks - I am getting $25,463 as the amount of the distribution
@livingthedream These historically low rates are frustrating for those of us trying to maximize our distribution, but aren't they actually already at ...
@livingthedream If you need to take a distribution while waiting for this decision, don't forget that there's a 60-day rollover window. If taken today...