Amir retired from active duty in 2021 and began taking disbursements from his traditional Thrift Savings Plan (TSP). Hiscontributions over the years included $12,000 of combat pay. Which of the following statements is TRUE about hisdistributions?

Combat pay is not considered part of the gross income, so Amir's $12,000 combat pay in his TSP…

Answered: Amir retired from active duty in 2021…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Amir retired from active duty in 2021 and began taking disbursements from his traditional Thrift Savings Plan (TSP). His contributions over the years included $12,000 of combat pay. Which of the following statements is TRUE about his distributions?