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I need a referral for a LOCAL accountant (not a book-keeping service) for some tax (long-term capital gains) questions and rolling over a Federal Thrift Savings plan into a Roth.

 

Please PM with referrals, and if there is someone who I should AVOID, your comments in that area will be held confidential.

 

Thankyaverymuch.:rolleyes:

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She has my vote too,

 

pubby

 

yes sir, Tina rocks!!! She was able to guide us through rough waters and helped us do a 60 month chapter 13 in 38 months which helped my credit recovery big time!! She also has lots of contacts with the Ga DOR that will make life easier.

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I think you're going to find that the CPAs are going to suggest selling your investments so you can get the current capital gains tax rate because it goes through the roof.

 

SWMBO has a Federal Thrift Savings Plan (part of her Fed retirement from CDC), Everything in that fund has not been taxed, and the TSP performs very poorly. We want to roll it into a Roth IRA that we can manage instead or relying on TSP's slow mismanagement. Just want to know that we are not going to incur some horrific tax liability by doing the roll-over.

 

I am also wondering if we were to cash out the entire balance, would we just owe ordinary tax rate on the amount of the fund that was her contributions, and capital gains on the "profits"? We might just do that instead of a roll over.

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Best thing to do is talk it over with the CPA you choose. They can advise you based on YOUR situation.

SWMBO has a Federal Thrift Savings Plan (part of her Fed retirement from CDC), Everything in that fund has not been taxed, and the TSP performs very poorly. We want to roll it into a Roth IRA that we can manage instead or relying on TSP's slow mismanagement. Just want to know that we are not going to incur some horrific tax liability by doing the roll-over.

 

I am also wondering if we were to cash out the entire balance, would we just owe ordinary tax rate on the amount of the fund that was her contributions, and capital gains on the "profits"? We might just do that instead of a roll over.

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