My wife is a Federal Government Employee full time. She has a TSP program (Thrift Savings Plan) which she received/requested a partial distribution last year (2019). Yes, they withheld the mandatory 20% Federal Taxes in the distribution.
Here's my question (I think I know the answer already).
We are both required to be legally named on the TSP account through the Federal Government. Since the distribution was last year (2019), the 1099-R was in her name for tax purposes, along with her identifying numbers. My name does not appear on this distribution (1099-R), although I DO HAVE TO SIGN THE AUTHORIZATION for withdrawal and notarized.
OK, here's the question: We are Married filing Separately this year. We are doing this because of repayment of student loans in anticipation of lowering her income basis for repayment. I am retired and receive SS and a Pension from my local government. Since my numbers (read income) are significantly less than hers, because she is still employed full time, can I take the TSP distribution amount and add this distribution amount to my lower income on my 2019 return?
Thanks in advance for any help!
JR
