Garden State TSP rules, Part II


Q: Will my Thrift Savings Plan withdrawals be taxed at retirement by the state of New Jersey?

A: Making a contribution with after-tax dollars typically creates “tax basis” in your account. As long as you keep good records on the amount of after-tax money you contributed to the account, you should not have to pay tax on those dollars again when withdrawn. I’m not an expert in New Jersey tax law, though, and you should consult a certified public accountant who is for specific advice.


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Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to and view his blog at

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