Q. I am separating from the U.S. Postal Service at age 58. If I take monthly payments of $1,400, will I still be taxed?
A. All distributions from your Traditional TSP account will be subject to taxation as ordinary income.
TSP and tax
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Mike Miles
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.