TSP account

[dhln]

when cashing out a tsp account, 20% is automatically deducted

what is the amount to list on tax form - original amount before 20% deduction or after

[DoninGA]

You enter the Form 1099-R you received for the distribution as received from the plan administrator.

The Gross Distribution in box 1 of the form is the total before taxes were withheld.  Federal Income Taxes Withheld are entered in box 4.

To enter, edit or delete a form 1099-R -

• Click on Federal Taxes (Personal using Home and Business)
• Click on Wages and Income (Personal Income using Home and Business)
• Click on I'll choose what I work on (if shown)
• Scroll down to Retirement Plans and Social Security
• On IRA, 401(k), Pension Plan Withdrawals (1099-R), click the start or update button

Or enter 1099-r in the Search box located in the upper right of the program screen. Click on Jump to 1099-R