ejjjm1
Returning Member

I cashed out TSP. How do I calculate RMD?

I was 71 years and 5 months on the day I left civilian service.  I cashed out my TSP.  How do I calculate RMD? I am now 72 years and 5 months.

I retired on 31 January 2017 under FERS.

dmertz
Level 15

Retirement tax questions

Retiring in 2017 made 2017 your first RMD year for the TSP.  Assuming that you do not have a spouse more than 10 years younger who was the sole beneficiary of your TSP, the portion of your TSP distribution that was RMD for 2017 was your traditional TSP balance on December 31, 2016 divided by 25.6  (The 25.6 factor is from the Uniform Lifetime Table for your age of 72 on your birthday in 2017.

(TurboTax only ask the amount of the distribution that was RMD to ensure that you did not roll over to another retirement account any portion of the distribution that was RMD.  If you did not roll any of this distribution over to another retirement account, it doesn't matter what amount you enter as the portion that was RMD.)

View solution in original post