Re: [TSP_Strategy] TSP Form 78 MONTHLY PAYMENTS MAINTENANCE

 

I am no tax expert but I believe that this is considered a roll over so it should not count against your IRA contribution limits.

On 9/5/2017 11:42 AM, Nelson Garcia it2garcia@yahoo.com [TSP_Strategy] wrote:

 

Yes, but will this affect your yearly contribution limit imposed by IRS to your IRA. I'm thinking of putting some more to my bank IRA account before I transfer it to my TSP but my bank says i have already maxed out my 6500 limit contribution for this year or I will be penalized by IRS

Sent from my iPhone

> On Sep 4, 2017, at 6:39 AM, Gary tweet_pa@yahoo.com [TSP_Strategy] <TSP_Strategy@yahoogroups.com> wrote:
>
> FYI for anyone thinking of taking money out of TSP to put into an IRA.
>
> TSP Form 78 gives you an option to put part or all of your monthly
> withdraw into an IRA see below.
>
> "VII. YOUR TRANSFER ELECTION for traditional balance—After you complete
> Item 15, take or send this page (including the instructions on the back)
> to your financial institution if you are submitting new IRA or plan
> information. Your IRA trustee or plan administrator must complete
> Section VIII. You must submit the completed package in order for your
> transfer to be processed. If you are only changing your transfer
> percentage, but your IRA or plan information remains the same, leave
> Section VIII blank. 15. Transfer .0% of the traditional (non-Roth)
> portion of my payments to the IRA or plan identified in Section VIII, or
> to my current IRA or plan."
>
> This can be done anytime during the year. You can only change the amount
> once per year but the amount going to your IRA as often as you like.
>
> This could be used to dollar cost average your contributions to an IRA.
>
> Gary
>
>
>
>
>
>
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> Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.
> ------------------------------------
>
> Yahoo Groups Links
>
>
>

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Posted by: Gary <Tweet_pa@yahoo.com>

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Neither the TSP Strategy group, nor individual members, are licensed or authorized to provide investment advice. Any statements made herein merely reflect the personal opinions of the individual group member. Please make your own investment decisions based upon your personal circumstances.

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Ditulis oleh: Andriansyah -