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

To: waldemar cyranski who wrote (669)	1/25/1999 2:10:00 AM
From: Colin Cody	Respond to of 1383

Waldemar, ....since I have already withdrawn funds voluntarily, is it still necessary for me to go through the excercise..... Yes it is. People 70 1/2 years old need to withdraw annually from their retirement plans (except Roth plans) based on some life expectancy schedule. You elect now for either a one time life expectancy or you elect to refigure it annually. You IRA custodian will have forms for you to work this out with. You can avoid this by rolling some or all of the IRA into a Roth IRA, and pay all the taxes now. Then you can leave it in the Roth "forever" if you'd like to. Colin