Ask The Experts: Money Matters

By Mike Miles

Taxes

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Q. I will be retiring from the military at age 66 in June. I only have about $40,000 in my Thrift Savings Plan account and would like a lump-sum withdrawal. How can you figure out how much will be taken out of that amount in taxes?

A. The information you’re looking for is here https://www.tsp.gov/PDF/formspubs/tsp-536.pdf on Page 3.

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