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April 26, 2025
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is a 401K plan considered a "traditional ira"?

  • April 26, 2025
  • 1 reply
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when turbotax tax about a Traditional IRA is my 401K plan at work the same?
Best answer by DoninGA

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 reply

DoninGA
DoninGAAnswer
April 26, 2025

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.