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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Megan, I need to know if you can do the three 72T calculations

Resolved Question:

Megan, I need to know if you can do the three 72T calculations necessary if I gave you the date of birth, amount, etc. Thanks Jim
Submitted: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years ago.

Megan C :

Thanks for requesting me!

Megan C :

Yes, I can do some 72T calculations for you if you give me the pertinent information

Customer:

Megan, the client's Date of Birth is 02/22/1958. The Beneficiary is 02/08/1954. I will use 1,000,000 as the IRA value. Can I assume that I can extrapolate on the 72ts for 1,000,000 to lesser amounts? Can you supply estimates under the 3 different IRA Methodologies?

Megan C :

I just have one 72T calculator

Megan C :

But i can do single, joint, and uniform

Megan C :

if that's what you mean

Customer:

So you can't do it for the 3 IRS methodologies?

Megan C :

I can do single life expectancy, joint life expectancy, and uniform lifetime for the life expectancy tables, and

Megan C :

and RMD, fixed amortization, and fixed annuitization for methods

Customer:

So I would have a choice of one of these to set up for the distribution. I guess I want to maximize the distribution but want to see the 3 choices sactioned by the IRS. Geez, I wish I could speak in person to explain! I'm not a good typist.

Megan C :

I understand. I think the three methods are RMD, fixed amortization, and fixed annuitization

Customer:

Yes!!! But you can only do one?

Megan C :

NO i can do 3

Megan C :

I didn't see the drop down menu

Megan C :

I thought I only had one of the methods

Customer:

Great!!! Pls. do Megan! Thanks

Megan C :

Okay hold on a sec

Customer:

Will do.

Megan C :

Thanks

Customer:

Welcome

Customer:

Take your time, It's important as I have a meeting about this tomorrow.

Megan C :

It's $33,784 on RMD

Megan C :

$41,850 on fixed amortization

Megan C :

and 41,542 on fixed annuitization

Customer:

Great! Megan, are there stipulations for using one method over the other?

Customer:

Or can you use whichever you want?

Megan C :

You can use the one you prefer

Customer:

Excellent! Thanks Megan, much appreciated!

Customer:

Jim

Megan C :

You're welcome/

Megan C :

Please don't forget to rate as "excellent" so that I may receive credit for assisting you today

Customer:

Of course! You always get "excellent"

Megan C :

Thanks so much!

Customer:

My pleasure!

Megan C :

Come back and see me again!

Customer:

I will. You are always fast and professional!

Megan C :

I'm on 14-18 hours a day, so you know where to find me. If I'm not here, I'm sleeping.

Customer:

WOW! Hope you get some vacation time too! Talk to you soon.

Customer:

Best JIm

Megan C :

You too

Megan C and 2 other Finance Specialists are ready to help you
Expert:  Megan C replied 2 years ago.
Thanks, Jim for your positive rating. Please come back and visit me any time you have a question that needs answered. It was a pleasure working with you today.

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