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Reasonable date for account balance

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ByRono

L1: Reasonable date for account balanceStarting three SEPPs this month. My IRAs are on-line & I can view the daily balances. Would it be reasonable to use the daily balance on the day I calculate my SEPPs? Recently rolled my 401K into IRAs, split into two unequal accounts & had one existing IRA, took out all the after tax contributions from the 401K. My retirement advisor is saying I have to use 12-31-03 account balances for the calculations. 401K rolled over, minus after tax money, split into two accounts would not be easy to calculateon 12-31-03 when it was one 401K. Thanks.2004-09-08 10:50, By: Rono, IP: [209.178.146.66]
L2: Reasonable date for account balanceRev. Rul. Section 2.02(d)Account balance. The account balance that is used to determine payments must be determined in a reasonable manner based on the facts and circumstances.
It does not insist on a 12/31 date, but I would probably select a date where I had a paper statement from my broker just to make sure.
As a side note, keep great documentation or there is a possibility that the IRS will look at the 3 SEPPs as only1 SEPP. 2004-09-08 11:01, By: Gfw, IP: [172.16.1.73]

L2: Reasonable date for account balanceUsing three different IRA account numbers & will use different payment dates. Guess, I’ll just print out my on-line statementas the reasonable balance amount. Been following this forum for about a year, thanks for the help. 2004-09-08 11:19, By: rono, IP: [209.179.226.250]

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