I took a $60,000 one-time withdrawal last month, and the fed took $12,000 for federal taxes. The state of Louisiana will be wanting their share come tax time. The ideal of rolling some into an IRA sounds pretty good, I probably should have gone that route for at least some of the money. I used $25,000 for a boat, though. :)
On Thu, Aug 27, 2015 at 10:34 AM, Gayle Taylor dollhousefreak@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
I believe I know the answer but just in case ----I retired a little over 2 years ago. So far have not touched my TSP. I am thinking about taking the one time withdrawal to bank some and to spend some! (Hey, could be hit by a truck tomorrow, right?)So they will tax the heck out of it unless I open an IRA, correct?ThanksGayle
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Posted by: M Baldwin <mbaldwin1958@gmail.com>
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