We have studied the ThMn12-type compound TbFe10V2 by magnetometry and high-resolution neutron powder diffraction. Previous workers claimed that TbFe10V2 undergoes a spin reorientation away from the tetragonal c axis at around 200 K, with the collinear magnetization eventually reaching an angle of 50° at 4 K. We have reinvestigated TbFe10V2 due to the unusual temperature dependence of its magnetization. We show that this behavior cannot be explained by a compensation effect and we suggest that a canted, noncollinear magnetic structure develops below the spin-reorientation temperature.