3004515
The requested amount was taxed 20% and the resulting amount was placed in a bank account. When I input that data into Turbo Tax, do I put what was asked for in the box (total requested) or what was really received?
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That question is asking if you put the funds you received from your Thrift Savings Account into another RETIREMENT account.
If you took a distribution from your Thrift Savings Account, enter what (if any) was rolled into another retirement plan, then enter what (if any) was converted to a Roth IRA.
If you made a distribution and deposited it into a checking and/or savings account, that amount would not be entered on that screen.
If you DID use it to contribute to a different retirement account, enter the amount that was actually deposited into that other retirement account.
If you made a distribution from your Thrift Savings, it may or may not be subject to the penalty tax.
If you made a LOAN, it would not be subject to the penalty tax unless you broke service early and decided to not pay the loan back. In that case the loan would become a distribution.
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