L1: 72(t)I did read the reply but it doesn’t give me a clear answer. I understand that if you take substantially equal periodoc payments that it should be the same each year. So the amount taken for the “year”of2009, and so on, must be the same. I am assuming the 72(t) is set up as a fiscal year, Jan-Dec.2009-08-18 00:02, By: Dee, IP: [220.127.116.11]
L2: 72(t)Please just add to the same thread so we don’t have several of them taking different paths. In any event, note on your original post that my response addresses your question. If not clear, please post additional questions on that thread. Thanks.2009-08-18 00:10, By: Alan S., IP: [18.104.22.168]
L3: 72(t)Normally, “fiscal year” means a 12-month period that ends on any date OTHER THAN 12/31.
Years ending on 12/31 are called “calendar year”.
Using “year” in communcations can be confusing.
If you use the correct terminology it is easier to communicate and be understood.2009-08-18 00:22, By: dlzallestaxes, IP: [22.214.171.124]
L2: 72(t)The first calendar year of a SEPP 72-T you have 2, and ONLY2,options :
1. Take the “annual distribution” between your first distribution and 12/31. The frequency or amounts can vary, so long as the total is exactly the annual calculation.
2. Take a prorated amount of your annual distribution based upon the month you start ( i.e. April = 9/12, Oct = 3/12).2009-08-18 00:28, By: dlzallestaxes, IP: [126.96.36.199]