72(t) distribution
If an individual has a large IRA and needs to take a small distribution, can the individual break up the IRA and take 72(t) distribution on only the small IRA or will the IRS require the 72(t) to be based on the full IRA amount?
If an individual has a large IRA and needs to take a small distribution, can the individual break up the IRA and take 72(t) distribution on only the small IRA or will the IRS require the 72(t) to be based on the full IRA amount?
Permalink Submitted by Alan Spross on Wed, 2012-08-08 18:52
Before the plan has begun, an IRA account can be partitioned into more than one account and only one of the accounts can be used for the 72t plan including the calculation and the distributions.
If the plan has already begun, please advise.