Partial Disbursements?

[jimnv_100]

I have been retired for nearly 5 years. Age 67 and have something north of 550K in the TSP. I am currently withdrawing a monthly of 2K and my account keeps growing slow and steady so I feel ok about how my conservative investments have been. Not making a million, but with 3 other income streams, I'm in pretty good shape. Question: I would like to withdraw a partial distribution of around 20K for a trip overseas. How much can I expect to be taxed on that amount? I cannot find any suitable information, but I did find something on the TSP site that I may pay 12% plus whatever that would do to increase my annual taxes because of a "pay raise" for the year.

Thanks for any help on this.

 

[tsptalk]

Hi Jimnv.

I believe 20% is the default. You can request more, but not less.

Thanks for joining us, and have a great weekend!