FEDLIFE Podcast (Ep. 96) - Transferring A Traditional TSP To A Roth IRA
Thinking about transferring your traditional Thrift Savings Plan (TSP) to a Roth IRA but worried about the tax consequences?
You're not alone — many federal employees face this dilemma.
In this informative episode, Ed Zurndorfer shares step-by-step guidance for individuals aged 59.5 or older looking to transfer their TSP account into a Roth IRA account.
From outlining the different types of eligible distributions and payments to discussing IRS rules for direct rollovers, Ed provides tangible strategies to best prepare for any income tax consequences resulting from the transfer.
Ed discusses:
- The different types of TSP distributions and withdrawals and which ones are eligible to be rolled over
- The tax treatment for TSP payments and the IRS rules for direct rollovers
- Why the transfer of a traditional TSP account to a Roth IRA does not constitute a rollover
- The importance of seeking advice from a qualified tax advisor before making any TSP withdrawal decisions
- And more!
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