Lifetime tables used in calculations
L1: Lifetime tables used in calculations
Each of the lifetime tables in publication 590 seems to list permissible use caseswhile many sites such as this seem to indicate you can just pick one or they just gloss over the selection. This doesn’t seem entirely clear to me. Any advice on table selection?
My problem is that I am married and my wife is less than 1 year older than me. That would seem to point me to using table 3 (Uniform Lifetime), but that table doesn’t give data for people under 70. Do I use table 2 which claims to for spouses more than 10 years younger?
2018-07-15 18:25, By: gozer, IP: [220.127.116.11]
L2: Lifetime tables used in calculations
For a SEPP Plan always use the single life table. Any other table will result in a lower distribution. If your calculated distribution is too high, consider dividing your IRA into two parts, one for the SEPP and one for any emergencies.
If you haven’t already, please read our “Planning Pointers”
Btw… all of the tables in PUB 590 are based on the the same actual mortality table, and all of those tables are built into our SEPP calculators.
2018-07-15 18:54, By: Gfw, IP: [18.104.22.168]