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Thread: Are G Fund Distributions State Taxable?

  1. Default Are G Fund Distributions State Taxable?

    I am a CSRS retiree. All of my TSP contributions were into the G Fund. I began to take distributions from my G Fund in 2012. The state I live in (Montana) does have an income tax and does not exempt Civil Service Pensions. My question is this: Since my TSP distributions come from a fund based entirely on U.S. Gov't bonds, are the distributions still subject to state income tax? Thanks!


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  3. #2

    Join Date
    Apr 2005
    Location
    Gainesville, Florida, USA
    Posts
    24,244

    Default Re: Are G Fund Distributions State Taxable?

    Yes fully taxable - but think of it this way - you are paying for food stamps you're not using.

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  5. Default Re: Are G Fund Distributions State Taxable?

    Quote Originally Posted by Birchtree View Post
    Yes fully taxable - but think of it this way - you are paying for food stamps you're not using.
    I suspect you are right but I sure would not mind hearing from others on this.

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  7. #4

    Default Re: Are G Fund Distributions State Taxable?

    Quote Originally Posted by baxter View Post
    I suspect you are right but I sure would not mind hearing from others on this.
    The fund that the money was in is irrelevent. The money in TSP was tax deferred so yes whenever you withdraw funds, you will have to pay income tax on it.

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  9. #5

    Join Date
    Apr 2005
    Location
    Gainesville, Florida, USA
    Posts
    24,244

    Default Re: Are G Fund Distributions State Taxable?

    Any income that produces a 1099 form is taxable - and there ain't no place to hide these days. The IRS knows everything about your income.

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  11. #6

    Join Date
    Feb 2007
    Location
    San Diego, CA
    Posts
    6,999

    Default Re: Are G Fund Distributions State Taxable?

    Quote Originally Posted by baxter View Post
    I am a CSRS retiree. All of my TSP contributions were into the G Fund. I began to take distributions from my G Fund in 2012. The state I live in (Montana) does have an income tax and does not exempt Civil Service Pensions. My question is this: Since my TSP distributions come from a fund based entirely on U.S. Gov't bonds, are the distributions still subject to state income tax? Thanks!
    You're TSP payouts are subject to taxation. The TSP is considered an investment and is available for taxation by all states. Even though it invests in U.S Treasuries, it doesn't count toward actually buying them yourself.
    THIS IS WHERE I WOULD PUT SOMETHING TO REPRESENT MY THINKING, BUT THEN THEY SHOW UP!
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    Check my position

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