72t IRA distributions
L1: 72t IRA distributionsA female taking IRA distributions at age 52 via the 72t calculations (date of first distribution is 2 years out). She has $402K of retirement assets of which $182K is invested in annuities with guaranteed income riders, which we do not want to activate at this time. The other $220K in the IRA is comprised of mutual funds.
If we take 72t distributions, can we take the distributions while doing the calculation based upon the total IRA value?2017-07-11 14:43, By: 72t IRA, IP: [188.8.131.52]
L2: 72t IRA distributionsI think you are saying that she wants to start the plan in 2 years. At that time she can include both IRA accounts in her 72t calculation but then only take 72t distributions from the mutual fund account. However, it is critical that she understands that the annuity IRA is also part of her plan and she must treat it as such. However, the annual distribution based on the balance of both accounts is taken only from the mutual fund account.2017-07-11 18:53, By: Alan S, IP: [184.108.40.206]
L3: 72t IRA distributionsClarification — She cannot use today’s values to determine her annual distribution amounts. She must use a value usually within 6 months of her 1st distribution date. SEPP 72-T distributions can come from any of the accounts that are part of the SEPP IRA Universe.
P.S. It does not matter if the taxpayer is male or female.2017-07-12 02:41, By: dlzallestaxes, IP: [220.127.116.11]