IRS Releases 2002 Guidance For 72(t) Computations
72(t) IRA Distributions - Revenue Ruling 2002-62 provides favorable results for those hit hard with stock market losses.
ContentsThere are three approved methods for penalty - free pre 59 and 1/2 IRA distributions, minimum distribution, amortization and annuity. This revenue ruling, 2002-62, provides information on how these computations are to be made. Those that started with the amortization or annuity method during the stock market bubble and invested heavily in the stock market through the IRAs, are going to deplete the IRA funds quickly if the amortization or annuity methods were originally used. Revenue Ruling 2002-62 provides for a one - time switch from the amortization or annuity methods to the minimum distribution method. The result of this switch will provide for the IRA balance to last longer. For a copy of Revenue Ruling 2002-62, see our IRA/Pension Distribution Planner home page. |