turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I opt in to contribute to my 401 k and roth 401 k election, are these selections the same as "traditional IRA, Traditional Roth IRA"?

 
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions

I opt in to contribute to my 401 k and roth 401 k election, are these selections the same as "traditional IRA, Traditional Roth IRA"?

No, a 401k and ROTH401k are deferred compensation plans through your employer whereas IRAs are Individual accounts not associated with your employer.

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

View solution in original post

1 Reply

I opt in to contribute to my 401 k and roth 401 k election, are these selections the same as "traditional IRA, Traditional Roth IRA"?

No, a 401k and ROTH401k are deferred compensation plans through your employer whereas IRAs are Individual accounts not associated with your employer.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

Manage cookies