UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: drippinfool Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75880  
Subject: IRA Distribution Penalty Exception Date: 6/23/2000 2:49 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
This is a shameless request for tax advice. I'd like some feedback on whether I'm doing this correctly. I plan to start taking distributions from my traditional IRA under the so-called "annuity" exception. I have the value of my IRA as of 12/31/99, and I plan to use the joint life expectancy from the tables in IRS Pub 590. The divisor I get based on our ages as of 12/31/00 is 38.7 (I'll be 51, she'll be 50). My reading of the instructions is that I simply divide the value of my IRA (no adjustments) by 38.7 to get the required distribution for the first year. For subsequent years, I simply refigure the joint life expectancy divisor from the same tables using our ages as of our birthdays for those years. Is it that simple? Am I missing something? Thanks for any help.
-Chester :)
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next

Announcements

The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

My Big Fat Greek Splat
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement