Can I very Monthly payments

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L1: Can I very Monthly payments
I want to start a 72t starting in January 2019 in only my IRA. I will be 55 on April 4. I will use the RMD calculator. I won’t need start taking distributions until March. Can I take various amounts each month as long as I fulfilled the RMD amount by the end of the year?
Also, can I take over the RMD amount?
2018-11-21 04:02, By: M.L.A., IP: []

L2: Can I very Monthly payments
1. Your SEPP 72-T does not start until you take the first distribution.
2. If you start in March, then you have the option of taking 100% of the ANNUAL DISTRIBUTION you calculate, or 10/12 of the ANNUAL DISTRIBUTION.
3. You can take either of these distributions whenever you want during the year, for whatever amount you need, so long as you take the full amount that you select before 12/31, but we recommend that you take your last one by 12/15 in case you have to correct for any under or over amounts taken. For example, you might need to take extra amounts when real estate taxes are due, and then reduce distributions later in the year.
4. You cannot take more than the calculated amount in any year until the later of age 59 1/2 or 5 years (60 months) from the date of the first distribution.
5. If you think that you might need more than 10/12 in the first calendar year, or more in the 2nd year, then take the full 100% Annual Distribution in 2019, and use the excess as a buffer so you hopefully won’t bust the plan early.
6. You can split your IRA into 2 or more accounts, and start one of the plans in March, taking a full 100% of its Annual Distribution, and then if you need more during 2019, start a 2nd plan, and take either its 100%, or a prorated amount of the 2nd plan. But the Annual Distributions will then be locked in for 2020 and future years.
2018-11-21 06:10, By: dlzallestaxes, IP: []