L1: Account Valuation: Can I include a recent rolloverAccount Valuation: Can I include a recent rollover, or must I use 12/31 balance?I rolled over a pension fund into my IRA, so I could take one, larger monthly distribution, starting this month. But, after more research, it seems I may not be able to include the additional amount in my account valuation.Will I need to move the pension money into a separate account, and take a separate monthly distribution? Please help.Thanks!2008-05-14 17:56, By: Finneas, IP: [18.104.22.168]
L2: Account Valuation: Can I include a recent rolloverAs recent postings have indicated, you can use more recent account balances as of dates BEFORE you start your SEPP 72-T . You could use April 30, March 31, or even May 13 if you were able to get printouts detailing the value at other than end of month.
If you had set up your SEPP 72-T with a 12/31/07 valuation, done all of the calculations, but had not taken any distributions as of the day before you wanted to use a different valuation, say 5/10, then you could terminate your original plan without any penalty because there were no distributions to penalize. Then you could start a 2nd SEPP 72-T with a new valuation date, and new starting date.2008-05-14 20:53, By: dlzallestaxes, IP: [22.214.171.124]
L2: Account Valuation: Can I include a recent rolloverFinneas,Just so we can be sure we understand your situation better, what month do you wish to start your plan, and will all your retirement assets be in the IRA you wish to use for your SEPP? Have you taken any taxable distributions this year?2008-05-14 21:45, By: Alan S., IP: [126.96.36.199]
L2: Account Valuation: Can I include a recent rolloverAlan S,What month do you wish to start your plan? MayWill all your retirement assets be in the IRA you wish to use for your SEPP? No. I have other retirement assets in other accounts.Have you taken any taxable distributions this year? No.Thanks!2008-05-14 22:02, By: Finneas, IP: [188.8.131.52]