I was planning to start a 72t SEPP (substantially equal periodic payments) withdrawal , to start drawing out
some of the money while I am in a low tax bracket.
My tax advisor says that I have to calculate the withdrawal amount based on the total amount in my IRAs, not on the one account that I was planning to set up with an amount that would be tuned to the withdrawal I wanted.
I've done alot of searching and seen it both ways - use the IRA 'account' value or use the IRA 'plan' (total) value.
Has anyone done this based on just one partial account? Or does anyone know a reference to an IRS private letter ruling that says you can use the partial account?
some of the money while I am in a low tax bracket.
My tax advisor says that I have to calculate the withdrawal amount based on the total amount in my IRAs, not on the one account that I was planning to set up with an amount that would be tuned to the withdrawal I wanted.
I've done alot of searching and seen it both ways - use the IRA 'account' value or use the IRA 'plan' (total) value.
Has anyone done this based on just one partial account? Or does anyone know a reference to an IRS private letter ruling that says you can use the partial account?