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By: Bill
2012-02-03 18:52
Views: 63
Replies: 7
Last: 2012-02-03 20:49
IP: 72.70.3.142
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Calculating fixed amortization method,
I am 50 yrs old and I will be starting a new plan in March or April. I would like to know how to calculate the fixed amortization method for single life expectancy without using the calculators.
The calculator asks for -
account balance, interest rate, age
At age 50 the IRS Mortality table has
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By: Gfw
2012-01-25 15:08
Views: 122
Replies: 9
Last: 2012-02-03 13:22
IP: 205.178.73.77
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72t.Net Refresh,
Every few years, we redesign the 72t.Net website. It has been about 2 years so we are at it again. You can follow our progress at
http://Gfw.yyyZ.Net.
Our goal this time is to make the site 100% HTML5 compliant and also "Responsive" in the way that it adjusts for various devices from desktops to
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By: Lodibob23p
2012-01-30 21:57
Views: 213
Replies: 8
Last: 2012-01-31 18:00
IP: 75.18.132.111
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Going back to work after taking 72T payments,
I am 53 years old, and have been retired for 16 months. I am considering going back to my old job full time, but have taken 72T monthly withdrawals of $731 for the last 16 months. If I do this, do I pay the 10% penalty on all my withdrawals, plus interest?
If so, what would the interest rate be
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By: Summer
2012-01-30 18:46
Views: 83
Replies: 3
Last: 2012-01-31 17:34
IP: 198.96.172.5
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72t,
I am looking to retire at 55 in May. My 72t distribution was figured at $24,900 annually. Are federal and state taxes withheld from this amount? I live in Indiana.
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By: oldman99
2012-01-26 03:39
Views: 174
Replies: 2
Last: 2012-01-26 23:52
IP: 96.60.22.79
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3 years into a 72T SEPP plan, considering changing to min dist.,
I started my SEPP in Dec 2008. I am considering changing it to minimum distribution this year. Do I use the original balance and interest rate I used to set up the original SEPP to calculate the minimum distribution or do I use current interest rates and
current IRA balance to calculate the mi
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By: worried
2012-01-25 18:30
Views: 94
Replies: 3
Last: 2012-01-26 23:36
IP: 144.160.130.16
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midterm rate,
I am 53 and plan on retiring in late march 2012. Can I use the mid-term rate for march to apply to my 72t IRA. I am hoping it may be higher than what it has been.
Thank You in advance
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By: bobby
2012-01-26 00:01
Views: 108
Replies: 5
Last: 2012-01-26 17:06
IP: 173.59.238.56
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72t,
I wish to start a 72t next month. I have an ira ,but the monies are split into different mutual funds, and each of these has a different account number. Question is can I do the 72t on all of these funds or just one?
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By: Gfw
2012-01-20 18:32
Views: 154
Replies: 2
Last: 2012-01-25 19:26
IP: 205.178.73.77
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February 2012 120% Mid-Term Rate,
February, 2012... 120% Mid-Term = 1.34%, Applicable Federal Rates for 72(t) and 72(q) Applicable Federal Rates for 72(t) and 72(q) distributions. Click
HERE
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By: dead ringer
2012-01-19 21:24
Views: 184
Replies: 11
Last: 2012-01-20 04:55
IP: 75.219.149.137
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IRA can't cover 72t distribution,
These are a couple of "what if" sort of questions. I am very curious to know the answers to these questions, none-the-less.
Lets say that after a 72T distribution has been calculated and started, the value of the IRA drops so significantly that the next distribution cannot be made, what happens?
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By: John T.
2012-01-17 22:07
Views: 175
Replies: 7
Last: 2012-01-18 01:28
IP: 184.96.165.149
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Age 59 1/2 question.......,
I will be 59 1/2 in November of this year. For IRS purposes, will I be considered under 59 1/2 for the 2012 tax year, and then over 59 1/2 for the 2013 tax year? Or, since I will be 59 1/2 before the end of the year, can I make that exception for the whole
year of 2012?
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By: moose
2012-01-17 18:24
Views: 84
Replies: 2
Last: 2012-01-17 21:57
IP: 98.200.65.113
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Does additional pension $ awarded due to Company mistake have to go into the SEPP we are using. I am 2 months short of 59 1/2,,
I have had an SEPP since 7/08. My pension and 401k are both rolled into it. SEPP first payment was 7/08. As a result of a lawsuit, additional pension $ were sent to me which I would like to use when I reach 59 1/2. Birthdate
is 10/29/1952.
My question is, will using these additional funds a
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By: TheresaM
2012-01-14 18:10
Views: 209
Replies: 3
Last: 2012-01-17 00:42
IP: 98.20.54.77
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reporting penalty,
Hello, and thanks for the informative website. Here is my situation
1) I have an established SEPP thru Schwab , and I get the code 2 each year on my 1099. Everything going well.
2) I had 72 bucks left over in a company plan (Fidelity) that was distributed to me directly because they wanted to cl
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By: kane
2012-01-10 17:53
Views: 212
Replies: 7
Last: 2012-01-12 04:53
IP: 207.237.214.217
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Using a Roth IRA to pay health insurance,
I have a Roth IRA for over 10 years can I use that money to pay for health insurance without being penalized the 10% for early withdrawal? I am 53 years old. I want to add that I just started taking 72t distributions from a traditional IRA. I have been out
of work for a long time and would hate
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By: Scott Bar
2012-01-10 12:22
Views: 152
Replies: 7
Last: 2012-01-11 06:02
IP: 204.96.170.173
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Start SEPP in January after modifying IRA,
Hi,
Let's say I plan to start a SEP this January, from IRA #1, but before starting it I roll $40k out of IRA #1 into a new account IRA #2 (for emergency purposes...).
When I calculate the annual SEP amount, the normal instructions are to use the valuation of the account based upon the 12/31 bala
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By: kane
2012-01-10 21:50
Views: 149
Replies: 3
Last: 2012-01-11 00:59
IP: 207.237.214.217
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Tranfering money to an HSA,
I recently setup a Traditional IRA account that I am taking 72t distributions from. I have taken my 2012 distribution from the account in one lump sum. I have read that I can transfere money from an IRA to a Health Savings Account. I have an existing HSA
that is close to my deductable limit tha
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By: Scott Bar
2012-01-10 12:29
Views: 142
Replies: 2
Last: 2012-01-10 18:11
IP: 204.96.170.173
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Starting SEP later than January,
What happens if I start a SEP in a month other than January, choosing a monthly distribution schedule.
Let's say I start distribution in March. I calculate the annual amount, and divide by 12 to get the monthly amount. But at the end of the first calendar year, I will have made only 10 paymen
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By: DJ
2012-01-08 22:07
Views: 140
Replies: 2
Last: 2012-01-10 03:34
IP: 66.75.125.149
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Stop 72t distributions and begin regular Anuity payments for retirement,
Back in 2007 I began early distribution of my two aunties under 72t early distribution. I was born in dec of 1952 so had to continue the early distributions for 5 years as the 59 1/2 point was earlier. Both annuities paid me the first time in dec of 2007.
One gave me an annual distribution tha
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By: Scott Bar
2012-01-10 00:48
Views: 103
Replies: 2
Last: 2012-01-10 02:28
IP: 204.96.170.173
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SEP distributions from a rollover IRA,
Hi,
I have two IRA accounts that were rolled over from a 401k about 5 years ago. The custodians of these accounts are well known brokerage firms. I am 54 years old, and currently have no other source of income.
Questions:
Can I set up SEP distributions on these type of IRA accounts?
D
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By: andyvet
2012-01-08 20:58
Views: 141
Replies: 4
Last: 2012-01-09 21:34
IP: 76.122.77.220
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Are Multiple withdrawals allowed within each of the 5 years,
I have an existing SEPP Plan and this is my 3rd year (2012). My date of birth is 08/14/1953. I will be 59 this year.
According to the calulations, I am to withdraw $130,000 this year from my IRA. The IRA is all stock. Do I have to sell the stock and make the withdraw all at once or can I sell som
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By: RC
2012-01-09 13:13
Views: 117
Replies: 2
Last: 2012-01-09 16:58
IP: 72.163.217.102
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2nd distribution,
I took my 1st SEPP distribution (Amortization) in Dec 2011 per the calculator at 72t net. Now, I want to take my 2nd SEPP distribution.
Question - Do I need to run the calculator again to find out the amount of the 2nd distribution? Or, is the distribution amount the same as in 2011?
Thx
...
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By: cajunslo
2012-01-07 15:56
Views: 208
Replies: 9
Last: 2012-01-08 11:57
IP: 146.130.68.41
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Busted 72T,
Born March 1961
Started a 72T with xx$ mid year 2004. Life Insurance Annuity. Opened another annuity the next year 2005 with more rollover money. (Same Custodian ) I ended both plans Oct. 2011. Checks were sent to me from custodian with the plan to open another type of
annuity ( same custodia
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By: Bobby
2012-01-06 17:44
Views: 166
Replies: 5
Last: 2012-01-07 01:40
IP: 173.59.238.56
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72t,
Going to start a 72t in febuary 2011, what does irs penalty 3.00% mean? What are the ramifactions of adding your spouse for the 72t?
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By: Ron
2012-01-04 19:33
Views: 195
Replies: 11
Last: 2012-01-07 01:11
IP: 98.178.179.99
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sepp cents,
Getting ready to calulate an SEPP, what about the cents. Should you drop the cents or round it off.
thanks
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By: Flying Advisor
2012-01-05 18:58
Views: 107
Replies: 2
Last: 2012-01-06 17:27
IP: 173.51.157.108
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Ending SEPP under RR 2002-62,
I'm under 72t Rev Ruling 2002-62. I turn 59 1/2 Jan 31. I've been taking the annual amount on a monthly basis. For my final payment do I just get my last RMD calculated check in January based on the pro-rated monthly amount or should I take the entire calculated
annual payment amount out before
...
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By: bajxrbv
2012-01-04 14:13
Views: 236
Replies: 8
Last: 2012-01-06 02:18
IP: 174.48.77.6
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Ending 72T distribution,
I received 72T distributions from 2007 to 2011. Am I free to do as I wish with my IRA now? I was turning 57 in 2007 and I am turning 62 in 2012. I have satisfied my five years of equal periodic distributions during the worst of the market. Can I now
stop taking distributions?
...
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