72t funds exhausted

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L1: 72t funds exhausted
I have been taking my 72t distribution for 6 years. I turned 59 1/2 in feb of 2018. My 72t distributions runs out of money this month. My current annual payment is 24,000 per year or 2,000 per month.

My 1099 for the upcoming 2018 tax year will not reflect the same payments I’ve been getting for the past 6 years since my money runs out this month. I will a have 18,000 withdrawn for this year.
Will this break my 72t equal payments rule. do I close the account out or do I transfer outside IRA money into the account to make up for the 6,000 shortfall.
how do you report being short the full amount when you have passed the 5 year marl and are over 59 1/2
2018-09-10 13:34, By: john, IP: []

L2: 72t funds exhausted
Technically you no longer have a SEPP 72-T plan. It was automatically terminated when you reached the later of 59 1/2 or 5 years (60 months).
You can now do whatever you want with the applicable IRA account(s).
2018-09-10 16:19, By: dlzallestaxes, IP: []

L2: 72t funds exhausted
Your first paragraph is not real clear. For example, you could be in your 6th calendar year but if your first distribution was in late 2013, you still have not passed your modification date.
So what was the date of your first distribution, and how much did you distribute in 2013? In addition, what do you mean by your distributions “running out of money”? Does that mean that you have taken 120,000 worth of distributions, or something else?
2018-09-10 18:27, By: Alan S, IP: []

L3: 72t funds exhausted
I did some rough calcs, using birth year of 1959, and starting 72t in 2013, taking out $24,000 per year using Amortization method, and using highest allowable SEPP interest rate for 2013 of 2.31%, and it required a starting balance of about $531,000 in the SEPP IRA for the calcs to yield $24,000 per year 72t withdrawal. If you only took out $120,000 so far, it is hard to image that your investments lost the other $411,000 in 6 years, as the market was on an upswing. Can you explain with figures of initial calculation as Alan requested? IRA balance, SEPP Interest Rate used, Method used, year of birth, and date of first withdrawal.
2018-09-16 15:34, By: Ken, IP: []