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When I retired,I received a full payout of my Federal Thrift Savings Plan which I then used to repay a previous withdrawal of my Federal Retirement (CSRS). Is this income taxable or does it qualify as a rollover to another retirement account?

When I was approved for "Early Out" from the Fed Govt, I asked to be allowed to transfer my Thrift Savings Plan into my Federal Retirement Plan (CSRS) to pay back the withdrawal I had made years earlier when I (temporarily) left Federal Service. Even though I asked repeatedly how to accomplish the transfer, I never got an answer until months later when my retirement had been finalized and I was told to pay $52K so that I could receive my full retirement benefits.
The TSP check went into my bank account and within a few days was withdrawn and used to purchase a Certified Check for payment to the OPM.
Income Tax Individual Taxable Income
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Tax Professional Answers

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Bernice Brightbill
If the CSRS is a tax deferred retirement acct similar to an IRA then it is not going to be taxed if the $52K was put back in before the time limit ..60 days? maybe 30, not sure; need to check.
Leave a Comment 196 weeks ago

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