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Add New Post Forum Notifications: Add/Remove Email Search Posts Limit Viewable Posts to Last 1 2 3 4 5 6 7 8 9 10 11 12 Months Page 1 of 6 1 2 3 4 5 6 > >> Go To 123456 By: Reg 8 Hours ago... Views: 28 Replies: 2 Last: 1 Hours ago... IP: 205.188.116.140 View Details Concerning Form 5329:, In tax year 2008 the exception code on form 5329 for "Distributions made as part of a series of substantially equal periodic payments..." was number "2." Does that still apply for tax year 2009? ... By: john 2 Hours ago... Views: 17 Replies: 1 Last: 1 Hours ago... IP: 71.141.138.189 View Details last year withdrawl amount, I turn 59.5 in august of this year and have 5 years of sepp withdrawls in february. I take monthly withdrawls. By august I won,t have taken a full years withdrawl yet but my plan will be over. Do I need to take a full years withdrawl or can it be prorated to the time I turn 59.5thanks John ... By: Rick 3 Hours ago... Views: 23 Replies: 1 Last: 2 Hours ago... IP: 138.27.1.18 View Details Using 8 year SPIA???, Received a proposal from a financial advisor and would like some input if this will work for 72t. It does not seem to meet the 72t rules as I understand them but would like additional comments. Age 52 and need to generate about $36K/year income from $800k (IRA account). They proposed using a ladder approach ... By: Stingray 2010-02-02 03:02 Views: 102 Replies: 3 Last: 2010-02-07 20:49 IP: 67.35.85.86 View Details IRA Transfer, In 2009 I transfered a IRA from Interactive Brokers to Vanguard. I did all this online with IB. The assests were electronicly transfered. I remember being asked a few questions online like is the amount taxable and are you under 591/2. I have now received a 1099R with box 2b checked and box 7 showing code 1, simple IRA checked. What I wanted to do ... By: PMM 2010-02-07 03:29 Views: 48 Replies: 2 Last: 2010-02-07 10:51 IP: 173.49.71.194 View Details 72T / SEPP, When separated from your employer earlier than age 55, is it safe to begin receiving SEPP payments from an IRA? I am a few months short of 55 and my employment is terminating next month. Should I wait until 55 to roll over my lump sum pension to an IRA if I am planning to receive SEPP? ... By: PH 2010-02-05 20:13 Views: 73 Replies: 5 Last: 2010-02-06 22:46 IP: 216.80.125.206 View Details Piecemeal 72T, I originally retired at 55, leaving my retirement deferred and took my 401k. I began SEPP (from the 401K) the following year. THEN I had need of the retirement funds so I took those last year. I recalculated and am getting SEPP payouts reflecting the By: jd 2010-02-05 22:04 Views: 49 Replies: 3 Last: 2010-02-06 19:44 IP: 24.182.67.242 View Details 72t and rmd, Started 72t 10 yrs ago and switched to the rmd method few yrs back when IRS allowed it. Will be 59.5 on 3-17-2010 and rmd amount I need to take in 2010 is $3,901 based on 2009 yr end value.Am I correct in thinking that I need to take the $3,901 before 3-17-10;also and that after 3-17-10, I can withdraw any amount from the IRA so I' ... By: Rob 2010-02-05 16:22 Views: 46 Replies: 1 Last: 2010-02-05 16:38 IP: 216.163.247.4 View Details Over 55 72T flexibility, I am attempting to help my mother with her 72t distribution. She was unexpectedly laid off this week and will be 55 in May. She will be rolling her 401k and lump sum pension into an IRA. The amount of income will she will need to draw is completely unknown but will not need to be determined until November. Is there flexibili ... By: John 2010-02-04 06:15 Views: 61 Replies: 2 Last: 2010-02-05 02:46 IP: 71.141.132.95 View Details switch to min dis method, I am in the final year of my sepp. For the last two years I have used the minimum disitrbution with joint life calculations having switched from the amortization method using single life calculations. Is this a problem? ... By: jean 2010-02-04 22:15 Views: 36 Replies: 3 Last: 2010-02-04 22:46 IP: 24.43.117.194 View Details tax and penalties, I would like to know if I withdraw 10% out of my non-qualified annuity, do I pay a penalty for early withdrawl to the IRS? I am 48. I rolled it to this annuity over a year ago. I have a question about cost basis. Do I get taxed on all earnings, or is there a loss cost basis involved. EG: started with 100,000, now ... By: dmorganoh 2010-02-03 18:56 Views: 82 Replies: 1 Last: 2010-02-04 11:30 IP: 75.118.77.1 View Details How much is the penalty to break SEPP?, I'm age 51, just started SEPP last year in August (6 months). Recently drained my savings on repairs, etc. I have about $500K, need to get at $10,000 immediately, and think I should set aside $15,000 in case this happens again. If I break the SEPP, what are the penalties involved? And can I restart my SEPP? Your help ... By: Ed 2010-02-04 00:59 Views: 52 Replies: 1 Last: 2010-02-04 11:25 IP: 68.81.220.28 View Details End of Sepp, Started my SEPP in 3/2001 and my final monthly distribution is this month as I will be 59.5 on 2/28/10. I just wanted to say thank you to all who have given advice and direction all of these years on how to set up and manage a SEPP plan. I have read the discussion forum on almost a daily basis since 2001 and have learned so much with your help. Kee ... By: johnnyg 2010-02-03 18:18 Views: 46 Replies: 1 Last: 2010-02-03 18:23 IP: 66.232.90.254 View Details Initial Valuation, To comply with RR 2002-62, the initial valuation date should probably be the December 31 of the prior year, or on a date within a reasonable period before that year's distribution.Can I use the valuation of the account at the end of February 2010 statement and commence a SEPP withdrawl 4 Mar 2010?Many t ... By: Boater 2010-01-31 17:40 Views: 75 Replies: 2 Last: 2010-01-31 22:44 IP: 71.222.202.221 View Details 72(t) for Fed Emp, Hello,This question concerns a gov. TSP account. If I use the annuitization method with monthly distributions (following all the rules), does anyone see a problem with leaving my money in the TSP fund instead of rolling it over to an IRA? It seems fairly straight ahead to me, but it's new territory. ... By: MrWillys 2010-01-31 12:34 Views: 67 Replies: 2 Last: 2010-01-31 20:10 IP: 71.139.17.61 View Details Traditional IRA?, In November 2009 I created an E-Trade Traditional IRA. While doing my taxes, Turbo Tax won't allow a deduction based on our gross income being to high, and having retirement programs through our work. Will I have to pay taxes and penalties to remove this money? It seems crazy to be double taxed. ... By: Mike 2010-01-30 02:39 Views: 110 Replies: 2 Last: 2010-01-30 18:20 IP: 216.80.125.206 View Details Do 72t Web Calculators Use End Period vs Beginning Period Value, I apologize in advance for the length. I'm using Fidelity for my IRA, they have a web calculator that cross checks with 72t.net's calculators - all is good - using Fixed Amortization method. Officially, Fidelity calculated m ... By: PLP 2010-01-30 02:27 Views: 71 Replies: 1 Last: 2010-01-30 10:01 IP: 69.183.245.210 View Details 72T for Spouse, I am currently getting 72T distributions using my IRA. Is my wife eligible to also collect 72T distributions from her IRA. I guess my full question would be , Can a married couple each collect72T distributions at the same time ?? ... By: Frizz 2010-01-30 04:39 Views: 86 Replies: 1 Last: 2010-01-30 10:00 IP: 70.142.63.213 View Details Company paid pension plan, Are company paid pension plans subject to the 10% penalty if withdrawn before 591/2? ... By: KLS 2010-01-29 21:12 Views: 77 Replies: 1 Last: 2010-01-29 21:25 IP: 71.222.152.44 View Details TSP-70 rounding off, Hi,Great site! Can I round off my 72(t) monthly withdrawal ($1772.19) on line 23c of form TSP-70? It would amount to .19 cents each month. This would result in a slightly underfunded SEPP. Is this a problem?KLS ... By: Dennis J 2010-01-29 17:02 Views: 94 Replies: 4 Last: 2010-01-29 18:58 IP: 4.156.81.49 View Details Turning 59 1/2 while taking 72T, I have 11 months left on my 72T. I turned 60 last November. My custodian who is also my former employer sent me 2 1099Rs. The distribution code on 1 is a 2(early dist. w/exemption) the other is code 7 (normal) when I turned 59 1/2. Is this correct? They claim the rule is 5 years or 59 1/2 whichever comes first. I am not changing my distribution unt ... By: Jude 2010-01-29 16:42 Views: 95 Replies: 5 Last: 2010-01-29 18:46 IP: 76.119.138.248 View Details Change dist amt when 72t ends, Thank you for having the only 72t resource I've trusted for 4 years. I would have busted my 72t when it ends in Aug had I not checked your site yesterday. My details: I started 72t monthly distributions Aug 2005 with dist. date on the 20th. The 20th was a Sat that year, so 1st check was issued on Mon the 22nd. I will be 59 ... By: JB 2010-01-29 16:29 Views: 75 Replies: 1 Last: 2010-01-29 16:46 IP: 207.68.220.150 View Details Rollover & 72T, I am retiring next month at age 55 and have a define benefit plan and a 401k plan. I am thinking of rolling over the lump sum defined benefit to my 401k plan upon separation of employment. Then I want to withdraw monthly from my 401K. Will I need a 72T to avoid the 10% penalty? If needed what account balance will it be calculated on? Also can ... By: Andy C 2009-12-29 21:13 Views: 186 Replies: 1 Last: 2010-01-28 12:52 IP: 207.190.115.171 View Details Divorce and my SEPP program, Sorry if this is redundant, I have searched previous posts and not been able to improve my understanding of the issues here, some of the advice seems clear but other pieces don't quite fit, and some seems fairly old. I have been taking $14,000 (approximately) SEPP payments from an IRA for 6 years, am 49 years old, current value of IRA is abo ... By: TheresaM 2010-01-28 00:39 Views: 90 Replies: 1 Last: 2010-01-28 12:02 IP: 75.88.198.233 View Details code 2 problem, Hello,last year, I was 55 and separated from service, and cashed in my Fidelity 401K ( paid taxes upfront) . I got a code 2 on my 1099R without the little IRA/SEP box checked. Also last year I started a 72T from my Schwab Ira and got the code 2 in box 7 with the IRA/SEPP box checked. My question : Will these two code 2's, from two ... By: Mike 2010-01-27 18:24 Views: 59 Replies: 1 Last: 2010-01-27 23:33 IP: 68.35.13.127 View Details Does SEPP Plan Indicate Total IRAs Balance or Just, I have 2 IRAs and will use one for the 72t distribution. When drawing up the SEPP plan must I indicate or reference the unused IRA and its balance in the plan, in any calculations, combined total balances etc, or can the plan just show and refer soley to the IRA which is being used for the 72t and its balance alone used in all calculations? ... Back to Top 72t.Net Discussion Forum Use the form below to signup and receive email notification for all Forum Posts. Please make sure that if you use a SPAM BLOCKER that you allow messages to be received from yyyz.com If you wish to be removed from the list, enter your email address and click on the [Remove] button. Your Email Address:
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