Thrift Savings Plan Loan

[Postman7777]

If I take an in-service withdrawal from my thrift savings plan and use part of the withdrawal balance to repay a thrift savings plan loan can I treat the repayment as a rollover and deduct the loan repayment amount from the taxable amount of the withdrawal?

[ColeenD3]

No. The withdrawal that repays the loan is not a rollover and even though you repay the loan, you will still pay tax on the withdrawal.

[Ferguson2024]

Can the repayments be claimed as I was already taxed for a tsp general-purpose loan?

[SusanY1]

No, there is no deduction for repayments to a TSP loan.  If the loan is repaid within the guidelines, there is no taxable distribution but any amount that is a taxable distribution cannot be deducted when repaid.