account valuation for my 72T

You are here:
< Back

L1: account valuation for my 72THello, and thanks in advance for your advice. I retired in Jan 2009, and in March 2009I put my lump sum pay out into my existingSchwab IRA, and have watched it grow about 13% since then. My question , Can I use the Oct 2009 statement balance that Schwab mails me as the IRA balance for calculating a distribution made in NOV. 2009? This seems reasonable to me. 2009-08-19 01:12, By: TheresaK, IP: []
L2: account valuation for my 72TTo answer your question, yes.
You did not indicate your date of birth. If you are already 59 1/2, then you do not need a SEPP 72-T and can take any distribution you want without any 10% penalty. If you are 57 or older, you have to decide if you want to be locked into a SEPP 72-T for 5 years, or if you have other resources to get you to 59 1/2.2009-08-19 02:32, By: dlzallestaxes, IP: []