I am sorry, but maybe I am confused by some of the terms. Just want to make sure I understand it clearly.
2019 TSP: (none of this should have happened)
Employee contribution: $2500
Agency 1% : $ 400
Agency Matching: $ 600
Capital gains: $ 200
Total: $ 3700
In my 2019 Tax return I filed as income on 1040 Line 1:
Employee contribution: $2500
Capital gains: $ 200
Total: $2700 ( so I over-payed the IRS by $200 which is the gain)
But what about these:
Agency 1% : $ 400
Agency Matching: $ 600
These are still sitting in my TSP since 2019 and the TSP admin will not take it back passed 15 Apr 2020
Should I have done THIS in my 2019 filing?
2019 Tax , File as income on 1040 Line 1:
Employee contribution: $2500
Agency 1% : $ 400
Agency Matching: $ 600
Total excess: $3500
If the answer to the above is YES, should I amend my 2019 tax return to reflect the:
what is still due = $3500 (total excess = employee + agency 1% + matching)
minus what I already paid $2700 (employee + gain) (the $200 gain paid unnecessarily will offset part of excess still due)
difference $700 (amend and add to 2019 Tax 1040 Line 1?)
Thank you very much.
