The Thrift Savings Plan has released its January 2020 processing schedule as follows:
Withdrawals processed after December 27 — Withdrawals processed the last two business days of December 2019 are considered taxable income for 2020, not 2019. The TSP will report them to you and to the Internal Revenue Service (IRS) on IRS Form 1099-R by January 31, 2021.
January 20 — The financial markets will be closed on Monday, January 20, in observance of Martin Luther King Jr. Day. The Thrift Savings Plan will also be closed. Transactions that would have been processed Monday night (January 20) will be processed Tuesday night (January 21) at Tuesday’s closing share prices.
IRS Form 1099-R — IRS Form 1099-R, Distribution from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., for tax year 2019 will be posted in the My Account section on TSP.gov and mailed by January 31, 2020. Note that withdrawals processed after December 27 are considered taxable income for 2020 and will not be included on 2019 1099-Rs. Taxable distributions of loans are taxable in 2019 if made on or before December 31 and will be included on 2019 1099-Rs.