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Level 1

Solved

A traditional IRA is not the same as a simple correct?

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AnnetteB6Answer

Employee Tax Expert

Correct, a Traditional IRA and a Simple IRA are not the same type of account.

Take a look at the information in the following IRS link to learn more about each type of account:

Types of retirement plans

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Employee Tax Expert

Answer

Employee Tax Expert

Correct, a Traditional IRA and a Simple IRA are not the same type of account.

Take a look at the information in the following IRS link to learn more about each type of account:

Types of retirement plans

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

Level 15

A SIMPLE IRA is one of the several types of traditional IRAs. Your IRA account statement will indicate whether the particular IRA in question is a SIMPLE IRA.