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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19221  
Subject: Re: SEPP Date: 8/8/2000 5:06 PM
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Greetings, Happime1, and welcome. You asked:

<<I'm receiving an SEPP payment from my IRA, needed it for house payment after I was early retired at work. I'm not working (SEPP my only income). Do I need an tax advisor before I do my 2000 income tax? I'm not wanting to put out any unnecessary money. >>

Unless you have a complicated income tax situation, the SEPP in and of themselves don't create a need for you to need a tax advisor. Your SEPP will be reported as a distribution on a 1099, you will report the SEPP as income for the tax year, and you'll pay your income taxes. If you did your income taxes yourself before you retired, then there's no reason you can't continue doing so now. All that's changed is the SEPP now take the place of your wages while working.

Regards..Pixy
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