Originally Posted by nomid1
Somehow I withdrew $12 too much (1/10th of 1%) from one of my IRAs using 72(t) SEPP rule. Too late to change. First year to do this.
1. I could call it a non-SEPP early withdrawal this year and pay a penalty, start again next year.
2. Keep taking out same amount, $12 error each year
3. Use correct withdrawal for the next 4 years I plan to be under the plan.
I'm took out the max I can take out at the max interest rate (3.69%). And a couple of weeks too late to correct the error with the custodian...for those two withdrawals
I can call the IRS, but wondering what best plan of action beyond this.
I discovered no error. Spent a day looking through Account Balance methodology for withdrawals. Also, opened up a couple of dozen of Google Spreadsheet versions to find out what I did.
The methodology and balance were correct. Once I found out what I did, as I did have my #s documented.
I used an average of end of year balance and first withdrawal to get the calculated balance for calculating withdrawals. All good.