Is a 401K the same as a traditional IRA?
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 Resources
Is an inheritance considered taxable income? Learn more from the tax experts at H&R Block.
Learn more about reporting a short sale on your taxes with advice from the tax experts at H&R Block.
Learn about the different sources of income and determine which ones are taxable and which are tax free from the experts at H&R Block.