Life Expectancy Tables
L1: Life Expectancy TablesI am preparing an SEPP and I am slightly confused about which life expectancy table to use. Can I select the table of my choice from IRS Pub 590 (single, joint and uniform)? As a married man, does using the “single” table have any consequences beyond the calculating the annual payments/account balance?2014-09-29 18:06, By: JE, IP: [188.8.131.52]
L2: Life Expectancy TablesYou can use single, joint or uniform – they are already built into our calculators.
With that said, just stick to the single life table – it will produce the highest withdrawal amount based on the same starting value and interest rate. 2014-09-29 18:15, By: Gfw, IP: [184.108.40.206]
L3: Life Expectancy Tables”Will using the single life table have any consequences beyond the SEPP calcs?”
Yes, it constitutes an immediate divorce filing! (JOKING).
Seriously, it does not. In fact, later on in your plan if you wanted to make the one time switch to the RMD method to reduce your distributions, you could also change over to the Uniform Table at the same time and that would reduce your distribution even more. When making the one time switch you are not required to maintain the same method used for your original fixed amount distributions.
2014-09-30 01:19, By: Alan S, IP: [220.127.116.11]
L4: Life Expectancy TablesThank you.2014-09-30 22:35, By: JE, IP: [18.104.22.168]