Beginning balance

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L1: Beginning balanceWhen figuring the allowed distribution, you would use the year end balance for tha IRA acct if using the Min dist. rules. Would you use that same value by the amortization and annuity rules or use the actual balance closer to when actually starting to take distributions.2001-11-04 10:27, By: Monte, IP: [127.0.0.1]
L2: RE: Beginning balanceFor the first payment under any of the methods you could probably use the balance on the end of the month prior to the first payment and the year end balance for all payments that follow.What does the plan say? Has it been reduced to writing?This is the type of thing that should be outlined in writing – see our sample form. 2001-11-04 12:33, By: Gfw, IP: [127.0.0.1]

L2: RE: Beginning balanceCould someone please provide insight as to why the total account value for the annuity method “should” be based upon the previous year end balance when calculating all future payments. The most current end of month balance as I understand it “can” be used to calculate the initial payment. Is there a IRS precedent/ruling that prohibits using the most current balance for all payments going forward? My SEPP guidebook basicaly states that the decision to use the year end balance or the most current balance is a no-guidance-provided-by-the-IRS area that should best be determined solely by a private letter ruling.Any help here most appreciated. And thanks in advance.2002-03-05 22:45, By: endgame, IP: [127.0.0.1]