PDA

View Full Version : 2007 TSP contributions for 2006?


bluetieman
03-19-2007, 02:13 PM
Help! I need to contribute about $4K to a tax deferred account to wipe out my tax liability for 2006...can I do this with my TSP and if so, how? I am not eligible for traditional IRA contributions because of my income. Thanks!
GGal
03-19-2007, 05:54 PM
Help! I need to contribute about $4K to a tax deferred account to wipe out my tax liability for 2006...can I do this with my TSP and if so, how? I am not eligible for traditional IRA contributions because of my income. Thanks!


Sorry, you missed the boat for 2006 and TSP......what were you thinking????

Are you now contributing the max plus any catch up you may be entitled to?

GA
Show-me
03-19-2007, 06:46 PM
Write a check, go to a Scottrade office and open a IRA. Badabing! You can open a IRA CD at a bank also.
GGal
03-19-2007, 08:50 PM
Write a check, go to a Scottrade office and open a IRA. Badabing! You can open a IRA CD at a bank also.


Mo, he said his taxable income exceeded the limitation....he can't have an IRA in addition to his 401K.

GA
Show-me
03-20-2007, 05:54 AM
Mo, he said his taxable income exceeded the limitation....he can't have an IRA in addition to his 401K.

GA

Oops! :embarrest: Cut me a check.............I'm a charity case. I promise I'll give it back. LOL
bluetieman
03-20-2007, 06:41 AM
Sorry, you missed the boat for 2006 and TSP......what were you thinking????

Are you now contributing the max plus any catch up you may be entitled to?

GA

I am not contributing the max, and was going to start doing that this year as well as a Roth. I had unexpected income last year and see this as a perfect opportunity to exclude it and to add to my retirment...again I cannot contribute to a traditional IRA due to my income...any thoughts with regards to the TSP (or any other wonderful suggestions)?
Show-me
03-20-2007, 07:00 AM
I am not contributing the max, and was going to start doing that this year as well as a Roth. I had unexpected income last year and see this as a perfect opportunity to exclude it and to add to my retirment...again I cannot contribute to a traditional IRA due to my income...any thoughts with regards to the TSP (or any other wonderful suggestions)?

Like GG said TSP wise for 2006 your done, no going back. Only payroll contributions allowed for the year you are in. Charitable contributions? Money or stocks to a charity. A gift to a family member?

You need "people" and a "easy button". Sorry I did not read you post throughly. Hurry, hurry, hurry.
GGal
03-20-2007, 07:29 AM
I am not contributing the max, and was going to start doing that this year as well as a Roth. I had unexpected income last year and see this as a perfect opportunity to exclude it and to add to my retirment...again I cannot contribute to a traditional IRA due to my income...any thoughts with regards to the TSP (or any other wonderful suggestions)?

If you have any debt, (other than mortgage) pay it off.....

Send a dozen or two gorgeous pink roses to your wife.....

Well, you asked for any wonderful suggestions....