Can I set up 72T from self Directed IRA? I”m ge

L1: Can I set up 72T from self Directed IRA? I”m ge2008-09-25 14:32, By: mkpa, IP: [71.198.125.227]
L2: Can I set up 72T from self Directed IRA? I”m ge2008-09-25 14:34, By: mkpa, IP: [71.198.125.227]

L2: Can I set up 72T from self Directed IRA? I”m geBased on your ability to post a question from the two postings you have done, I would say no– you may need help. KEN2008-09-25 15:30, By: Ken, IP: [75.67.65.254]

L2: Can I set up 72T from self Directed IRA? I”m geYou should indicate what types of investments your are planning to “self-direct” in your IRA. Will you really be doing this yourself, or is this going to be an investment with one of the companies who markets “Self-Directed IRAs” ? ( Be careful if so, because many of those are being questioned by the IRS, with significant penalties, despite what the company states in their marketing literature.)2008-09-25 17:26, By: dlzallestaxes, IP: [96.245.168.66]

L2: Can I set up 72T from self Directed IRA? I”m geMy investment is basically a note with a company that is paying me
interest. This is through the self directed IRA. Would I be able to set
up a 72T and hopefully would only be drawing out my income based
on the
interest that I am making on this note.
2008-09-25 17:34, By: mkpa, IP: [71.198.125.227]

L2: Can I set up 72T from self Directed IRA? I”m geThe “interest that I am earning” has no relevance in a SEPP 72-T. The law requires a CALCULATION based upon the amount designated to be in the SEPP 72-T IRA account, plus other factors as indicated on this website. The figure would possibly requirea higher amount, and might require including some of the principal. If you gave us specific figures, you could get a proper response.Is this a note that you hold personally, or one that an independent company got for you ? Assuming that themonthly payment receivedsatisfies the calculated required distribution amount, which it probably does not, if the payment is received too late in Dec. (or not until early January), then you would not be able to make the final required monthly distribution. If that happened at any time before the later of 5 years or age 59 1/2, the plan would be “busted” RETROACTIVELY from the beginning, and the 10% penalty would be imposed on the cumulative distributions. 2008-09-25 17:47, By: dlzallestaxes, IP: [96.245.168.66]

L2: Can I set up 72T from self Directed IRA? I”m geThe answer is yes, you can set up a SEPP. However, it will probably not qualify unless the interest payment exactlyequals (within$1) the calculated SEPP distribution.Use the calculator, enter your information and you will easily see what the answer is, but even more importantly whether you will be exempt from teh 1% penalty..2008-09-25 17:49, By: Gfw, IP: [216.80.125.206]

L2: Can I set up 72T from self Directed IRA? I”m geGFW — I”m sure you meant 10% penalty.But, isn”t the requirement that $ xxx be distributed each year, and it is immaterial if the investments earn more or less than the distribution amount ? Couldn”t any excess earnings be accumulated in the account, while any shortfall could be made up from principal ? Or don”t I understand the SEPP 72-T fully ?2008-09-25 18:05, By: dlzallestaxes, IP: [96.245.168.66]

L2: Can I set up 72T from self Directed IRA? I”m geMy investment is in a ATM co. I have $60000 with them and they are paying me 15% ($750) guarenteed for
60 months. Can I set up a 72t Based on the above amounts ( I am assuming the $750 is to large
for a monthly disbursement)
2008-09-25 18:28, By: mkpa, IP: [71.198.125.227]

L2: Can I set up 72T from self Directed IRA? I”m gedlz – you are absolutely right. The earnings, or lack os earnings, are not material to the amount of the distribution.mkpa – use the calculator link, enter your informationand see what thedistributions would be – it isn”t rocket science.2008-09-25 18:37, By: Gfw, IP: [216.80.125.206]