equal payments above rmd
L1: equal payments above rmdIf RMD is say $500 per month, can you take out more than that if you keep it the same for the required time period like $800 per month for example. Thank You.2009-09-02 21:01, By: hunter99, IP: [220.127.116.11]
L2: equal payments above rmdNo. You can take out the calculated amount – no more and no less – the annual amount distributed should be within about 50 cents of the calculated annual amount – allows for rounding.
Also remember that the MD method is recalculated each year and the amount distributed will vary each year.
If you want $800/month use the reverse calculator, enter 9600 as the annual distribution, select one of teh other methods and see how much you need – transfer any excess to a new IRA before distributions begin.
2009-09-02 21:11, By: Gfw, IP: [18.104.22.168]
L2: equal payments above rmdIf you want an informed response, please provided more info.
Normally, a SEPP 72-T is required to pay EXACTLY the annual distribution. Traditional payments are the same EVERY YEAR. If you are talking about changing your SEPP 72-T to an RMD distribution calculation, then the ANNUAL AMOUNT will be different each year. However, you cannot distribute more than whatever the annual distribution is supposed to be.
HOWEVER, if you are talking about Required MINIMUM Distributions from an IRA ( non-SEPP) after age 70 1/2, remember that it is a MINIMUM, and you can deduct higher amounts from non-SEPP 72-T plans BEFORE 59 1/2 (or 5 years).
Please explain your situation more clearly.2009-09-02 21:13, By: dlzallestaxes, IP: [22.214.171.124]