Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

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

cancel
Showing results for 
Search instead for 
Did you mean: 
annahixson
New Member

When doing my taxes it as if i have an ira. is that the same as a 401a?

 
1 Reply
EdwardK
Level 6

When doing my taxes it as if i have an ira. is that the same as a 401a?

No. Both are used to save and invest for retirement but they are different.

An Individual Retirement Account (IRA) is an account set up at financial institutions and used by individuals to help save and invest for retirement. There are several types of IRAs, such as Traditional IRAs, Roth IRAs, SIMPLE IRAs and SEP IRAs.

A 401(a) plan is a retirement plan normally offered by government agencies, educational institutions and non-profit organizations to its respective employees.

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.48m
Members

2.61m
Discussions

Manage cookies
v