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L1: 72(t)In regards to Doc’s previous question. I am also setting up a 72(t). I am 50 years old and have $325,000 in my IRA account. I am planning to take the allowed amount out of my IRA using the amortization method. It appears I will be able to receive $16, 151.00 annually. I am having a hard time finding anyone in our town that has the answers to my questions, so therefore, this web site has been very helpful y to me. Thank You! My question is: If I start my 72(t) September 1, 2009,can I take $5,383.68 out for 2009 ($16,151.00/12 mos.x 4 mos. =)or must I take the full $16,151.00 for 2009? I realize in 2010 I must take the full amount, and it appears to me I must take out $16,151.00 for 2009 as well. Which is correct? Thank you for your help!2009-08-17 20:08, By: Dee, IP: []
L2: 72(t)See GFW’s 2nd reply to DOC for the answer to your question about prorating first year option. He is the owner of this website. KEN2009-08-17 22:38, By: Ken, IP: []

L3: 72(t)Assuming the first SEPP distribution is in Sept, you have a choice between 4 months worth or the full annual amount. You do not have to make the final decision until December. For example, you could take out 1/12 the annual amount in Sept, Oct and November and then decide whether to continue the 1/12 in December or to fill out the full annual by taking 9/12 in December. The decision to take the full annual amount might be affected by your tax bracket in 2009 and more importantly, by your assessment of adequacy of your annual distributions to meet your expenses over the full term of the plan. The extra 9 months can be set aside for unexpected or emergency needs.2009-08-18 00:01, By: Alan S., IP: []