TSP and taxes

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Q: I’m 66 and employed by the Army. I am covered by CSRS-Offset and have been making contributions to the TSP, but no “make-up” contributions. I have applied for and received Social Security benefits based on full eligibility during this calendar year. Are my TSP contributions still excluded from my computation of Adjusted Gross Income?

A: Your TSP contributions via payroll deferral are always taken pre-tax and stay that way until you withdraw the money.

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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 fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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