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Picture of ancom41
Posted
Should I expect to receive a 1099 or other related tax form from the TSP? I have not withdrawn/liquidated any % of this account, so I don't believe I should be receiving anything. Any guidance would be appreciated.
 
Posts: 29 | Registered: Fri 19 December 2008Reply With QuoteEdit or Delete Message
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Dave_M

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Unless you are getting payments from your TSP, probably not. It isn't taxed until you withdraw it and it is excluded from your W-2 income. I just got my 1099 yesterday.
 
Posts: 221 | Registered: Mon 07 July 2008Reply With QuoteEdit or Delete Message
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You are correct, you will see on your W2 the amount you contributed listed which also if you notice will be the difference between what is on block # 1 and block # 3 (which is the taxable income for SS and medicare purposes). TSP will only reduce your taxable income for federal and local taxes but not for SSN & medicare.
 
Posts: 683 | Registered: Mon 22 July 2002Reply With QuoteEdit or Delete Message
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Picture of ancom41
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Thanks for the explanations.
 
Posts: 29 | Registered: Fri 19 December 2008Reply With QuoteEdit or Delete Message
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