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Reply to "TSP loan question"
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[quote=Anonymous]If you have a traditional TSP setup and take a loan, my understanding is that your amortized payments are setup with pretax dollars. However, if you send in extra payments, obviously that is after tax dollars, so when you withdraw TSP money in retirement, wouldn't you get taxed twice on any extra payments you made for a TSP loan? Does that mean there is greatly reduced incentive to pay off a TSP loan early? I know you can reamortize your loan to pay if off faster if you request to reduce the years it takes to payback, which I assume are still pretax dollars, but for lump extra payments it is after tax. Is there anyway at getting around being taxed twice? Can you direct the extra payments into a Roth TSP? That way your taxed earnings go in but you don't get taxed on the way out. I know you can have both traditional and Roth at the same time. [/quote]
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