I have run through 72T calculations to take early distribution on my IRA (I am 55 plus).
1) Is this something I need to have a tax adviser look at or do I simply ask my broker to start sending monthly checks?2) Are there IRS forms to fill out?
3) Since I am about 8 months into age 55, do I need to or can I take, a catch up payment for the previous 8 months? If I do, I assume that this amount will be taxable in 2010 not 2009? Correct?