A friend of mine has just withdrawn some money from her Thrift Savings Plan account (she works for the Federal Government), and this is a hardship withdrawal. Will she have to pay tax on the amount withdrawn? Assuming she does, will she also have to pay a penalty (she is under age 50)? Finally, can she avoid any tax and penalty if she returns the money to the TSP within some set period (60 days???)?Thanks in advance for any answers.
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