Age 59 in November of 2012
L1: Age 59 in November of 2012
I turn 59 in November 2012. I have been taking 72t distibutions for more than 5 years. I already took my distribution for 2011. Will 2012 be the last required year to take a distribution?
2011-12-29 14:44, By: Mountinfun, IP: [220.127.116.11]
L2: Age 59 in November of 2012
If you have completed the 5-years (before 2012) as stated, then in 2012 you have three options:
Take nothing; or Take 11/12s of the annual amount; or Take the full annual amount.
In 2013 and until age 70.5 you can take any amount that you desire.
2011-12-29 15:01, By: Gfw, IP: [18.104.22.168]
L3: Age 59 in November of 2012
Since OP will not be 59.5 until May 2013, I would think a full annual amount would need to be withdrawn in 2012.
In 2013 the 3 option choices would then be available since they have completed more than 5 years and are will be over 59.5:
Take nothing; or Take pro-rated amount up to May; or Take the full annual amount.
2011-12-29 16:06, By: meb24, IP: [22.214.171.124]
L4: Age 59 in November of 2012
Meb24 – You are exactly right – I mis-read the 59 in November to be 59.5 – the options that I listed would be good for 2013.
Have a happy and Prosperous New Year!
2011-12-29 17:05, By: Gfw, IP: [126.96.36.199]