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L1: changeI have 3 seperate IRA”S and began SEPP withdrawals on 2 in 2001.In 2002 I continued mydistribution on one and have no plans to make any changes as my dividends cover my distribution.The other IRA which I drew 20k from in 2001 I havent taken any distribution on in 2002, as my idea was to bust the plan due to the significantly decreased value and fact I dont need the money. Rather then bust the plan I am going to take advantage of the new law which will give me a minimal annual distribution from this IRA and avoid the 2k penalty for busting. My question is, do I use the balance of the account on 12/31/01 to determine an annual distribution on 12/1/02 or can I use the balance on 11/31/02 to determine my annual distribution.I want to get the smallest distribution possible….Thanks for your help2002-10-23 19:15, By: ed, IP: [127.0.0.1]
L2: changeIf making the change to the MD method as outlined in 2002-62, I would use the balance as of10/31 or 11/30.
As I have mentioned in other replies, document the change and all the transactions.
2002-10-24 13:28, By: Gfw, IP: [127.0.0.1]