cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 2

im retiring this year, im concidering withdrawing all my funds in my thrift saving account, how will i be taxed next year on my taxes, or is there a exemption for this?

 
1 Reply
Level 20

im retiring this year, im concidering withdrawing all my funds in my thrift saving account, how will i be taxed next year on my taxes, or is there a exemption for this?

Basically, tax deferred contributions to a TSP are taxable in the year funds are withdrawn. There are no exceptions to that, as it doesn't matter what the funds are used for when they are withdrawn.