Browsing: Tax returns

Q. I recently submitted paperwork for a partial withdrawal of my TSP account (I am separated from federal service). I submitted this paperwork with guidance from a certified financial planner and after several phone calls to TSP. I wanted $240,000 rolled over into another retirement vehicle. TSP only sent them $112,000 — taxed the balance and sent me a check. When I called them they said their was nothing I could do now since the money had already been disbursed. I haven’t even received the check yet. What recourse do I have? I do not want to withdraw this money…

Q. I am on CSRS,over 59 1/2 years old, and thinking of withdrawing my TSP and putting it in a personal account. If, for example, I have $50,000 to withdraw, and there is a 20% tax penalty, as I understand it, this means I receive $40,000. Now, is $50,000 added to my income for tax purposes, or is $40,000 added to it? If it is $50,000, can I include the 20 percent penalty as tax deducted from my income on my tax return?