Like the title says, my wife and I make over 240k annually. I swapped over to traditional TSP this year, and just saw online that traditional IRA's aren't tax deductible over 240k (not sure what the point is then). Does the same hold true for traditional TSP? I couldn't find any mention online, so I assume not?
Is my traditional TSP tax deductible if my wife and I make over 240k combined?
byu/m_law1999 inMilitaryFinance
Posted by m_law1999
1 Comment
It is tax deductible. It falls under 401k rules with pre-tax dollars.
https://www.usbank.com/financialiq/plan-your-future/retirement/ira-vs-401k-whats-the-difference.html