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Distributions for how many years

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Last Updated On
ByBraxton

L1: Distributions for how many years
I was born on September of 1959. I plan on setting up a SEPP with $250,000. I plan on starting the distributions on 01/15/2019. I ran the calculator.
These are the distribution years. This is 6 payout periods. Is this correct?
Year: 01/15/2019 – 12/31/2019
Year: 01/01/2020 – 12/31/2020
Year: 01/01/2021 – 12/31/2021
Year: 01/01/2022 – 12/31/2022
Year: 01/01/2023 – 12/31/2023
Year: 01/01/2024 – 01/15/2024
2018-03-26 20:49, By: Braxton, IP: [206.41.230.2]

L2: Distributions for how many years
It doesn’t matter. You will be 59 1/2 in March 2019. There isn’t any reason to start a SEPP in Jan 2019, and lock yourself in for 60 months.
Wait until March, and you can take any amount out without any 10% penalty because at that point you are no longer subject to an “early” distribution !!!!!
2018-03-26 21:36, By: dlzallestaxes, IP: [173.75.252.16]

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