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Are you able to answer a tax questions relating to Thrift
Hello. Are you able to answer a tax questions relating to Thrift Savings Plan (TSP) withdrawl? … read more
JeffS6413
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Master's Degree
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FAILURE TO ROLL OVER AN IRA WITHDRAWAL OF $303,000 WITHIN 60
FAILURE TO ROLL OVER AN IRA WITHDRAWAL OF $303,000 WITHIN 60 DAYS.March 2020: My sister bought a new house in Maricopa, AZ.Unfortunately, she received bad advice from the seller's realtor to “borrow m… read more
Dr. Fiona Chen
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I want to file my 2020 taxes, but I took a 401k withdraw in
I want to file my 2020 taxes, but I took a 401k withdraw in 2020 as well. If I file my taxes, is there any way I could file the 401k withdraw until next year? … read more
Lev
Lev
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Bachelor's Degree Equivalent
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Im trying to figure out if i want to do a CARES act
im trying to figure out if i want to do a CARES act withdrawl from my 401k … read more
Robin D.
Robin D.
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I'm looking to take a $100,000 CARES Act related withdrawal
I'm looking to take a $100,000 CARES Act related withdrawal from my Thrift Savings Plan. However my overall goal would be to get the funds into my Roth IRA. Is this possible? … read more
Lev
Lev
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I received a beneficiary IRA, a regular IRA and a cash
I received a beneficiary IRA, a regular IRA and a cash inheritance. I am wondering how to strategize using them for a home purchase in 2020. … read more
NelsonProTax
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My total TSP account was emptied by an identity theft and I
My total TSP account was emptied by an identity theft and I need to know how to report the transaction. TSP sent a 1099R showing a total withdrawal and reported the withholding to the IRS. Since I did… read more
Mark Anderson
Mark Anderson
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I am retired military, want to invest in precious metals but
Hello I am retired military, want to invest in precious metals but gov TSP will be taxed if I remove money. I left federal gov civilian job about 1 yr ago with money still in tsp. I am 57 ...and separ… read more
Dr. Fiona Chen
Dr. Fiona Chen
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I served in the Navy and have a TSP account. I am separated
Greetings. I served in the Navy and have a TSP account. I am separated and have been for 5 years. I would like to withdraw the funds that have accumulated from the TSP. I am trying to determine the ta… read more
Barbara
Barbara
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I own a house that is currently under lease to own contract.
I own a house that is currently under lease to own contract. I owe $117,000 on the house. I still have 19 years left on my 30 yr. 5.5 % fixed mortgage. The tenant still has 24 years left to pay off th… read more
Lane
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JD, MBA, CFP, CRPS
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I have had short-term as well as term capital losses - most
Hi; I have had short-term as well as long term capital losses - most incurred by day-trading. If I withdraw money from my Thrift savings plan (I am 58 and retired now and I can take a one-time withdra… read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
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When I retired 4 years ago I purchased some gold and silver
When I retired 4 years ago I purchased some gold and silver coins and rolled them into an ira. Since the value has reduced dramatically, I am considering closing the account, putting them in a bank an… read more
Robin D.
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I'm looking at the income averaging article regarding avoiding
I'm looking at the income averaging article regarding avoiding a tax spike in a high income year being available to retirees. I'm thinking of taking a large sum from my TSP account to put a down payme… read more
Bill
Bill
Master's Degree
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Both my wife and I served on active duty in the Navy and now
Both my wife and I served on active duty in the Navy and now draw pensions. We are also both currently federal employees with the Navy and plan to retire next year. We also have Thrift Savings Plan (T… read more
jgordosea
jgordosea
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Bachelor's Degree
2,885 satisfied customers
To Whom it May Concern, My Question: I have a sum of money
To Whom it May Concern, My Question: I have a sum of money in a Thrift Savings Plan (Government Employee Savings Plan) and my spouse and I would like to withdraw this amount and invest it in our futur… read more
Arthur Rubin
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Doctoral Degree
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I am considering a lump sum payment from my Thrift Savings
I am considering a lump sum payment from my Thrift Savings Plan when I retire this year. My wife and I are in the 28% tax bracket for our income. If I pull $100,000 from TSP I am assuming it will be a… read more
Dave CPA
Dave CPA
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I work for the federal government and I am also a veteran.
I work for the federal government and I am also a veteran. I reside in virginia. I bought a foreclosed property for 310,000 in June (same property was sold 3 years ago for 480,000). Question 1: Have y… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
2,290 satisfied customers
I have seperated from the federal goverment. Im in ...
I have seperated from the federal goverment. I'm in the process of withdrawing my full amount from my TSP to pay off an emergency debt. I was told to roll over the full amount to an IRA, then withdraw… read more
Bill
Bill
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