L1: 72 t
can you recieve oct through dec in advance without exceding the alotment for the year also can i get 2012 in jan for the entire year without hurting the 72 t
2011-09-14 20:41, By: dave, IP: [220.127.116.11]
L2: 72 t
Have you read the numerous postings on this question ?
1. In the first calendar year, you can withdraw either 100% of the annual amount, OR the prorata amount based upon the number of months.
2. You take withdrawals in any frequency, so long as you do not exceed the annual amount, nor can you take less than the annual amount, except the prorated amount in the first calendar year.
3. You can take 100% of the annual amount in Jan, but we warn you that you must be very careful to budget its use over the rest of the year.
2011-09-14 20:55, By: dlzallestaxes, IP: [18.104.22.168]
L3: 72 t
dlz is correct.
If you have been taking monthly distributions, you can take the rest of 2011 right now if you wish and then take 2012 in January.
But your question suggests you are really stretched and you might run dry sometime in 2012. If that is true, and it looks like you inevitably would have to bust the plan, it may be best to bust it now and start a new plan in
2012. Thatwould prevent your 2012 distribution from being penalized.
Of course, we do not know the entire picture here, and you may have access to other funds such that your plan will be preserved or the plan may be about to end, but IF you do have to bust a plan, there are ways to do it that
reduce the amount on which the penalties and interest will be based.
2011-09-14 21:17, By: Alan S., IP: [22.214.171.124]