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helolover
New Member

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

 
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2 Replies
AnnetteB6
Employee Tax Expert

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

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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dmertz
Level 15

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

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.

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