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URL:  http://boards.fool.com/i-reached-age-70-in-december-first-questionis-11738932.aspx

Subject:  Re: tax deferred withdrawals Date:  1/2/2000  8:44 AM
Author:  Bobbcat Number:  17213 of 78168

I reached age 70 in December. First question..is it true that I do not have to withdraw income from deferred plans until age 70 1/2 and that I can wait until at least January 2001.

You turn age 70 1/2 in 2000. Your first distribution is due by April 1, 2001 based on your plan balance 12/31/99.

Your second distribution is due December 31, 2001 based on your plan balance 12/31/00 (less your first distribution if it is paid in 2001).

You may want to make your first distribution in 2000 in order to manage your marginal tax bracket against making two distributions in 2001.

Next question..where do I find the tables that indicate the amount of withdrawals I must take.

Should be in IRS pub 590. Since your birthday age is 71 in 2000, use age 71 for your first distribution.

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You must take distributions out of each plan.
You may combine IRAs for the calculation and take th