☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Apr 26, 2025 7:19:00 AM

is a 401K plan considered a "traditional ira"?

when turbotax tax about a Traditional IRA is my 401K plan at work the same?

0 1 1333
1 Best answer
Level 15
Apr 26, 2025 7:31:44 AM

No.  A tax deferred employer sponsored 401(k) retirement account is Not the same as an IRA.

 

Any contributions you made to the 401(k) will be shown on your W-2 in box 12 with a code of D.  Those contributions are not entered anywhere else on the tax return.

1 Replies
Level 15
Apr 26, 2025 7:31:44 AM

No.  A tax deferred employer sponsored 401(k) retirement account is Not the same as an IRA.

 

Any contributions you made to the 401(k) will be shown on your W-2 in box 12 with a code of D.  Those contributions are not entered anywhere else on the tax return.