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

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
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 5

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.

Dynamic AdsDynamic Ads
v
Privacy Settings