We have a TSP account and are repaying a loan we took out through our account...do I need to wait for the 1099 to come to file taxes or will we not have to claim any of that money since there was no withdraw, only contributions and a loan?
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No, everything that needs to be reported concerning a TSP (Thrift Savings Plan) account is reported on your W2.
The loan re-payment does not involve deductible interest since you did not list your primary home as collateral.
No, everything that needs to be reported concerning a TSP (Thrift Savings Plan) account is reported on your W2.
The loan re-payment does not involve deductible interest since you did not list your primary home as collateral.
You should NOT receive a 1099-R if you are in compliance with the loan repayment terms. But if not, you will receive a 1099-R.
Tom Young
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