We took $198000 out of our TSP account (at age 621/2) and put it into this Lincoln account. The original plan was to have that money supplement our retirement. After a couple of years and noticing that the account had a value of about $225000, it was recommended that we 'close' that account and pay off most of our debt (other than house and 1 vehicle). We did that and were provided a check for $179000 with no tax withheld, payed off everything, and put $50000 into a CD that has matured, so that we had funds to pay our taxes. We knew that we would have to pay and have no issue with that. We just want to know if we are able to account for the loss between the original $198000 (that, since we moved the funds into another qualified account so there were no taxes paid on that amount) and the $179000 that we actually received. Lincoln charged us a penalty of $19000 for closing the account early so they made money from that transaction.
