Question

Is a 401K the same as a traditional IRA?

Answer

The answer to your question: Is a 401K the same as a traditional IRA is no.

A 401K is a type of employer pension plan. An IRA is an individual retirement account. Both plans provide income in retirement. However, each plan is administered under different rules.

Related Topics

Related Resources

What If Someone Else Pays Off Your Student Loans?

If you are lucky enough to have your student loans paid off by someone else, you may have to think about the tax implications. Learn more at H&R Block.

How Do I Calculate Cost Basis for Real Estate?

Did you sell property over the past tax year? Find out from the experts at H&R Block how to calculate cost basis for your real estate.

Picking Up Seasonal Work: A Teen’s Guide to the Tax Implications

For teenagers filing taxes due to picking up part-time seasonal work, learn the the top things you need to know at H&R Block.

Exempt Interest Dividends

Learn more about tax exempt dividends and get tax answers at H&R Block.