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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: SnowShredder who wrote (668)	1/24/1999 10:01:00 PM
From: waldemar cyranski	Read Replies (1) \| Respond to of 1383

Open Question...............In my IRA during the yr 1998 I withdrew several thousand dollars, I was able to do this because I am over 70 yrs old...... actually, I in Feb.99 I will be 70 1/2 yrs old ,so the IRS expects me to start withdrawing funds based on a formula determined from life expectancy tables, so my question is....since I have already withdrawn funds voluntarily, is it still necessary for me to go through the excercise.....the withdrawals I made are reported on my 1040 and taxes are paid at the appropriate tax bracket which is determined upon completion of the 1040.....