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2 replies

ColeenD3
ColeenD3
Alumni - Intuit
February 7, 2022

No, it is not.

 

TSP-The thrift savings plan is a defined-contribution plan gives federal employees a plan parallel to what nonfederal employees have with 401(k) plans. 

 

IRA-An Individual Retirement Account (IRA) is a type of plan that you contribute to outside of a work situation.

    Level 15
    Opus 17Level 15
    Level 15
    February 7, 2022

    Although they have the same general purpose, they are controlled by different tax laws.  Some rules on contributions and withdrawals, especially regarding penalty exceptions, may be very different.  And when the program asks for IRA contributions, it is only asking about IRAs.  Contributions to work place plans are captured from your W-2. 

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