who is suppose to inform the IRS what figures they use

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L1: who is suppose to inform the IRS what figures they useDoes the IRS get anything from my investment funds other than the 1099-r if that is all they getthen they won’t know ifI have busted my 72t until I have collected a full years distribution. If I only got 6 payment in the first year as long asI collect the other 6 at the end of my 5 years i should be ok or canI take the other 6 months the begining of the last year and stop the payments so I don’t receive too much.2009-12-17 15:39, By: buzzles, IP: []
L2: who is suppose to inform the IRS what figures they useYes, all the IRS receives is the 1099R unless they come to you for additional documentation. In your first year, you can distribute either the full annual amount of a pro rated amount based on the month of your first 72t distribution.If you elect to take out your full annual amount in the first year, your 60 months of distributions will be completed sooner, and could allow you the option of taking out nothing in your final year, which is either the later of the year you turn 59.5 or the 5th anniverary of your first distribution. However, the option you choose for the first year does not change your modification date, which is the date you are first allowed to take a distribution which is NOT a 72t distribution.Returning to your original post, if you took out 6 months in your first year, then your first distribution must have been made in July. If it was in any other month, then the plan was busted in the first year. If this happens to be your first year, you still have time to make changes if you need to. For example, if your first distribution was in Sept, but you have taken out 50% of your annual amount, your plan is busted unless you take out the other 6 months prior to year end.2009-12-17 19:08, By: Alan S., IP: []