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multiple IRA”s

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ByGlenn

L1: multiple IRA”sI have a client with 6 IRA’s with $25,000 in one and a total of $500,000 in the other 5. He wants to start a 72t distribution in January and include the 5 IRA’s that total $500,000. He wants to keep the $25,000 IRA for an emergency. If he needs to withdraw funds from his $25,000 IRA next year and pay tax and penalty (he is 55) will that cause a problem with his 72t distribution? 2004-10-19 15:15, By: Glenn, IP: [216.163.247.1]
L2: multiple IRA””””sShould be no problem. Just keep good records for the 5 IRAs that are included and the 1 that is excluded.
Excluding a portion of the funds from the SEPP is called “Planning Ahead”! 2004-10-19 16:48, By: Gfw, IP: [172.16.1.70]

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