How to Fix “Busted” 72T

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L1: How to Fix “Busted” 72TClient transferred an IRA with existing 72T program to a new, zero balance IRA at new custodian. Old 72 t distributions were being withdrawn on the 1st of each month. New custodian decided to withdraw 1/1/08 distribution on 12/31/07, effectively giving client 13 distributions in 2007. Can this be fixed?
I have considered rolling over the 12/31/07 distribution to a different, non-72t IRA, so client does not have to report the 13th distribution. Would this work?
Thanks for your help!!2008-02-26 13:01, By: Richard, IP: []

L2: How to Fix “Busted” 72TYou still have a few days left to repay it within the 60-day window. Hopefully the broker would then accommodate the client by re-issuing a corrected 1099-R, especially when the client “sugests” that this might be less expensive for the broker than the lawsuit and publicity about their negligence and stupidity !!!!
P.S. This is another reason why it is NEVER a good idea to have payments after the 26th of the month, or before the 5th of a month. Long weekends related to holidays can result in inadvertent problems.2008-02-26 13:20, By: dlzallestaxes, IP: []

L2: How to Fix “Busted” 72Twhat is a zero balance IRA?? I have an existing IRA with 72t program and would like to bust it but avoid the penalties etc. Is this a way to do it?? Please explain. Thanks.2008-02-26 20:58, By: Jack, IP: []

L2: How to Fix “Busted” 72TWe suggest that you pose new questions in new postings, not within others” queries. It gets too confusing mixing topics, even if you think they are related. Often there are different fact paterns that are involved.
Please resubmit your question.2008-02-26 22:24, By: dlzallestaxes, IP: []