Retirement payback

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Q. When I left the government for six years I pulled out my retirement under CSRS. I since have returned back to the government for the last 17 years. Since I was taxed on it when I pulled it out, can I report it on my taxes as paying back into my retirement?

A. Your CSRS contributions were made with after-tax money and they should not have been taxed again when they were withdrawn. Generally, CSRS redeposits are not tax deductible. Of course, your tax preparer should verify this for you before submitting your return.

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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 fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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