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For military members contributing to TSP, the limits is around 23K. Do I report this as a Roth IRA contributions? Somehow being told the limit is 7K.

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Best answer by SteamTrain

@Dechawat159

No...you don't enter anything about your TSP contributions in the IRA/Roth IRA Contribution area.. Take those $$ out.

1) Your TSP Contributions are entered as a part of your W-2 entries in the Income area of the software...nowhere else.

2) A TSP account is NOT an IRA account. Those are different retirement account types.

Employee

No...you don't enter anything about your TSP contributions in the IRA/Roth IRA Contribution area.. Take those $$ out.

1) Your TSP Contributions are entered as a part of your W-2 entries in the Income area of the software...nowhere else.

2) A TSP account is NOT an IRA account. Those are different retirement account types.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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