turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

benveyna
New Member

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?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
Carl
Level 15

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Basically, tax deferred contributions to a TSP are taxable in the year funds are withdrawn. There are no exceptions to that, as it doesn't matter what the funds are used for when they are withdrawn.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies