Date for Calculating 72T

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L1: Date for Calculating 72TCan you calculate 72T base the value of an IRA account on a date other than 12/31/07? Can I use 4/30/08? 2008-05-02 12:28, By: Christie, IP: []
L2: Date for Calculating 72TSure, you can use other dates for determining your account value using the following guidelines:1) Do not go back more than 6 months from the month you start your plan.2) Be sure there are no contributions, transfers,or distributions between the date you use for your account value and the date of your first 72t distribution. This is particularly true of employer plan rollover IRAs that may be prone to receive automatic transfers of trailing dividends.3) Be able to substantiate your balance. A month end or quarterly statement is best, but an account print out for any particular date should also be OK, so you could actually pick an account high point within the prior few months if you want to squeeze out a higher 72t distribution.4) There is no exact correlation requirement between the month you use for your account balance and the month you select for your interest rate. Since the interest rate used must be from one of the prior two months, the account balance can be from an older date than the interest rate. But the account balance can also be from a month later than the month you select for your interest rate.5) Remember that in your first calendar year, your actual distribution can be either pro rated by the month of your first distribution or you can also select a full annual distribution.2008-05-02 17:01, By: Alan S., IP: []