Browsing: IRA

Q. My RMD for 2016 was withdrawn March 2017 and my RMD for 2017 was withdrawn in April and December 2017. My 1099-R reports the total of the RMDs with no distinction for how much was for 2016 and for 2017. Am I supposed to use Form 8606 for the TSP RMD? Form 8606 asks for the value of the IRA on Dec. 31, but I have two values (one for 2016 and one for 2017). Also, if TSP is not an IRA, what is it? Is there another form to put this info?

Q. I’ve settled a case against the government and would like to apply some of the proceeds into my TSP account. I’m over 50. Other than making a “make up” contribution, can I use 415c to make an additional annual contribution that is the difference between $54,000 less my elective deferral, matching contributions, etc?

Q. I receive a CSRS annuity only, I don’t have any other investments, i.e. TSP, IRAs or anything close. I turned 70 1/2 in 2017 and the required minimum distributions requirement is confusing. From what I’ve read the past couple of days, it appears that I don’t require any RMD for my situation. Can you clarify?

Q. I know with a traditional IRA if I don’t take my required minimum distributions by 12/31 of the calendar year I turn 70 1/2, I am subject to a steep penalty. However, in reviewing the TSP information, it seems like I can wait until April 1 of the following year, without penalty. Do I understand that right?

Q. I am considering taking a position where I would be a re-employed annuitant and covered under a dual comp wavier. As my income looks like it would be over the limit for an IRA, what are the best ways I could continue to save for retirement while I am a reemployed annuitant and then roll those savings into the TSP?

Q. There is a lot of information on sites regarding how to convert traditional TSP funds to a Roth IRA – and how to transfer Roth 401(k), Roth 403(b) and Roth 457(b) into the Roth TSP – but I can’t seem to find anything about transferring Roth TSP funds to a Roth IRA. I am told that this can be done (Roth to Roth), but can’t find anything definitive on it, or what form to use to do it.

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