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what balance do I start with

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ByDoug

L1: what balance do I start withI am looking to set up a sepp this year. On dec 31 2004 my balance was $515,500, but at the end of March it was $488,000. Can I use the March balance if I want to? If I elect to take a full amount in December can I use the October Balance. Is the a rule of thumb to use?2005-04-24 15:24, By: Doug, IP: [69.136.235.184]
L2: what balance do I start withHello Doug:
For some reason, your question is confusing me; but let me provide the general rules:
1. The valuation date of the IRA account must always preceed the 1st distribtion from the account.
2. The valuation date and the date of the 1st distribution must be within the same calendar year; remembering that a 12/31/04 and a 01/01/05 valuation are the same thing.
3. It will be the date fo hte 1st distribution, not the valuation date that will determine what interest rate to use.
TheBadger
wjstecker@wispertel.net
2005-04-24 17:10, By: TheBadger, IP: [66.250.23.21]

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