- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
We have a TSP account and are repaying a loan we took out through our account...do I need to wait for the 1099 to come to file taxes or will we not have to claim any of that money since there was no withdraw, only contributions and a loan?
Topics:
posted
June 5, 201911:43 AM
last updatedJune 05, 201911:43 AM
2
3,834
Connect with an expert
![Do I claim TSP contributions or Loan repayment on our taxes? (2) Do I claim TSP contributions or Loan repayment on our taxes? (2)](https://i0.wp.com/ttlc.intuit.com/community/s/html/@19BBAC8F360EA97E8F5453DD6396FA39/assets/icon-person.jpg)
Do you have an Intuit account?
You'll need to sign in or create an account to connect with an expert.
1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I claim TSP contributions or Loan repayment on our taxes?
No, everything that needs to be reported concerning a TSP (Thrift Savings Plan) account is reported on your W2.
The loan re-payment does not involve deductible interest since you did not list your primary home as collateral.
June 5, 201911:43 AM
3,356
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I claim TSP contributions or Loan repayment on our taxes?
No, everything that needs to be reported concerning a TSP (Thrift Savings Plan) account is reported on your W2.
The loan re-payment does not involve deductible interest since you did not list your primary home as collateral.
June 5, 201911:43 AM
3,357
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I claim TSP contributions or Loan repayment on our taxes?
You should NOT receive a 1099-R if you are in compliance with the loan repayment terms. But if not, you will receive a 1099-R.
Tom Young
June 5, 201911:43 AM
3,356
Still have questions?