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Form 5329

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ByTami

L1: Form 5329Facts: Man age 60, started 72(t) distributions at age 57, currently under the 5 year limitation, box 7 of 1099 is coded 7 (normal distribution), Form 5329 was completed in the past three years
Questions: Does the Form 5329 need to be completed for this year?2003-01-30 10:53, By: Tami, IP: [127.0.0.1]

L2: Form 5329Hello Tami:
The short answer is no. This man should not complete 5329 for this year, because this year”s distribution is NOT an early distribution; it is in fact a normal distribution. Rather, it is the continuation of distributions this year and next that protects the 1999-2001 early distributions (pre age 59 1/2) from being retroactively surtaxed.
TheBadger
wjstecker@wispertel.net
2003-01-30 11:05, By: TheBadger, IP: [127.0.0.1]

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