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New Member
posted Feb 1, 2025 9:13:32 AM

Is a 401k a private IRA?

I took money from my 401k plan. Is this considered a private plan ?

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2 Replies
Level 15
Feb 1, 2025 9:14:22 AM

If the 401(k) was offered by your employer it is not a private plan.

Level 15
Feb 1, 2025 9:16:32 AM

A 401(k) plan is not an IRA. 

 

If you contributed to an employer provided 401(k), your contribution are shown on your W-2 in box 12 with a code of D.  Those contributions are not entered anywhere else on a tax return.