State tax


Q: Is the TSP federally approved? The reason I need to know this is that I live in New York and when you are 59½ you are able to exclude $20,000 single, $40,000 married, of your annuity for New York tax purposes.

A: This is a question about state tax law – whether the TSP meets a certain definition established by the state of New York – and is one for a New York CPA.


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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 and view his blog at

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