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To: Steve Grabczyk who wrote (9131)	11/2/1999 9:15:00 AM
From: Gary	Read Replies (1) of 18928

Steve Your friend is correct about the taxation of IRAs. Any amounts withdrawn are taxed as ordinary income in the year of receipt. There are no calculations involved. Withdrawals made before age 59 1/2 are subject to a 10% penalty (there are a few exceptions to this such as distributions in the form of annuity type payments for at least five years; payment of educational expenses...). At age 70 1/2 you must make minimum distributions from the IRA account based on your life expectancy (or joint life expectancy with your beneficiary. Hope this helps. Gary

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