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72t recalculation

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Bynordees

L1: 72t recalculationIn making a recalculation of a 72t that was started in 1999, can I use any one of the three methods (RMD-life expectancy, amortization or annuitization) or am I required to use only the life expectancy RMD method. I’m a little bit confused on the PLR from the IRS. My original calculation was done by a financial planner at the high water mark of around $750k and I was taking out $67,157 per year, but because of the market downturn I only have $156,619 left.
Thanks for the help!2005-11-06 21:15, By: nordees, IP: [67.139.113.13]

L2: 72t recalculationHello nordees:
I suspect that your 1999 through 2004 distributions have been the same @ $67,157. If that is true, then your only choice to doa method change to the minimum method.
TheBadger
wjstecker@wispertel.net
2005-11-06 22:38, By: TheBadger, IP: [66.250.23.21]

L2: 72t recalculationYes, it has always been a $67,157 per year 72t SEPP. So my only choice is the RMD method using only life expectancy. Am I understanding this correctly?
Thanks again!
2005-11-06 23:23, By: nordees, IP: [67.139.113.13]

L2: 72t recalculationUnless you are 59 1/2, in which case you have satisfied that and the 5-year requirement, and can stop your SEPP 72-T plan and all mandatory withdrawals, until you reach 70 1/2.2005-11-07 00:14, By: dlztaxes, IP: [4.175.9.147]

L2: 72t recalculationI was born 1/7/1949 (56)so I have until 7/8/2008 to take the 72t. I need to recalculate or else I’m out of money.
Thanks for all your help!2005-11-07 00:43, By: nordees, IP: [67.139.113.13]

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