Q: Are monthly payments taxed? Is there any way to get around paying so many taxes on your TSP withdrawals?
A: Your TSP withdrawals, unless they are rolled over, are taxable as ordinary income.
TSP withdrawal taxes
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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.