Dog
Full time employment: Posting here.
- Joined
- Apr 8, 2006
- Messages
- 880
I've decided to implement 72t distributions. Going with minimal distribution for 5 years (I'm 57). Working with Vanguard Rep to get monthly distributions to NFCU checking account ($ cost avg in reverse). Started process in mid January and it is taking a bit longer than expected (this is new process for my Rep and he has fumbled a bit). However, he says it should be ready to go early next week.
I just want to confirm that I will take the annual amount and divide by 11 months now in order For the amount to equal the total annual amount that the minimal distribution calculation dictates......right?
Probably a silly question and I hope it makes sense but I just want to be accurate and not be penalized 10% by IRS.
Thanks for the second set of eyes
Sent from my iPhone using Early Retirement Forum
I just want to confirm that I will take the annual amount and divide by 11 months now in order For the amount to equal the total annual amount that the minimal distribution calculation dictates......right?
Probably a silly question and I hope it makes sense but I just want to be accurate and not be penalized 10% by IRS.
Thanks for the second set of eyes
Sent from my iPhone using Early Retirement Forum