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starting balance

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Last Updated On
ByFAR

L1: starting balanceThanks to all that replied to my last question regarding interest rates – it was helfpul. I have one additional question regarding the initial 72t balance to be used. I’m just getting ready to initiate my 72t and wondering what IRA balance to use. What is the limitation on this? I read somewhere that it should be based upon 12/31 of the previous year (2005 in this case) but also read that I could use a more recent (yesterdays for instance) balance. As noted above I have note yet initiated the 72t.
Regards,
FAR2006-01-04 15:04, By: FAR, IP: [207.224.22.31]

L2: starting balanceRR 2002-62 says: an account balance should be “determined in a reasonable manner based on the facts & circumstances”. As a result, any number of starting balances would be acceptable including:
1. 12/31/05 balance.
2. Today’s closing balance.
3. 1/17/06 balance.
TheBadger
wjstecker@wispertel.net
2006-01-04 15:43, By: TheBadger, IP: [66.250.23.25]

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