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SEPP recalculation

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ByStenli

L1: SEPP recalculationI started an SEPP in 1998 and I elected to recalculate annually using the Amortization method. The software I have been using to do my recalulations has not been updated with the new life expectancy tables. Can I use the old tables to do my recalculation for this year or do I need some kind of an update?2003-01-02 11:50, By: Stenli, IP: [127.0.0.1]
L2: SEPP recalculationHello Stenli:
Using annual reclaculation using the amortization method since 1998 says that you must have been using either table I (single life) or table 2 (J&S live) from the “old” publication 590. That being the case, computing your 2003 distribution is rather easy using the @pmt function in either Lotus or Excel. The real question is whether you should use the old tables from 2002 & earlier to determine your new life expectancy or whether you should use the new tables published this last Spring.
In this regard, the IRS has always been consistent; it”s your choice.
TheBadger
wjstecker@wispertel.net

2003-01-02 19:02, By: TheBadger, IP: [127.0.0.1]

L2: SEPP recalculationLook at the plan that you implementedand follow the plan. Don”t make any changes to the table and you shouldn”t have any problems.2003-01-02 20:32, By: Gfw, IP: [127.0.0.1]

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