Employer 401k vs ira

is my elective deferrals into a 401k the same as an ira contribution?

posted

Connect with an expert

1 Best answer

Accepted Solutions

Employer 401k vs ira

No, they are not the same. Elective referrals to a qualified retirement plan are made with pre-tax dollars. IRA contributions are made with after-tax dollars, which is why many taxpayers receive a tax deduction for their contribution.

View solution in original post

1 Reply

Employer 401k vs ira

No, they are not the same. Elective referrals to a qualified retirement plan are made with pre-tax dollars. IRA contributions are made with after-tax dollars, which is why many taxpayers receive a tax deduction for their contribution.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Expert does your taxes

Do it yourself

Resources

Support

Employer 401k vs ira

Employer 401k vs ira

Employer 401k vs ira

Get more help

Do you have a TurboTax Online account?

Employer 401k vs ira

Do you have an Intuit account?

Employer 401k vs ira

Employer 401k vs ira

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert