I have two IRA's One I downloaded from Fidelity and it is listed on my 1040 Form on line15b. The other is from Thrift Savings Plan. I entered it using the 1099R provided. It is included on 16a/b, versus line15b. Is this correct? BTW, the IRA/SEP/SIMPLE box is not checked on the TSP 1099R.
You'll need to sign in or create an account to connect with an expert.
Yes, that is correct, the TSP is not considered an IRA. It is set up in the manner of a 401(k) where contributions are taken from your paycheck.
Since it is not considered an IRA then not having the IRA/SEP/SIMPLE box checked is correct for the TSP.
Yes, that is correct, the TSP is not considered an IRA. It is set up in the manner of a 401(k) where contributions are taken from your paycheck.
Since it is not considered an IRA then not having the IRA/SEP/SIMPLE box checked is correct for the TSP.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
snoqualmie7
Level 3
urbanek14
New Member
stickler22
New Member
royphillips13
New Member
geraldcapestry
Returning Member