Question

It’s asking me do I pay IRA or Roth IRA but I pay my 401k r they the same

Forum|Forum|6 years ago
February 3, 2020
1 reply
0 views

No text available

TurboTax Live Deluxe Online

No, they are not the same. The question is asking if you have made any payments to your personal individual retirement account (traditional or Roth). If the only money you contribute to retirement is done through your employer, then answer no to this question. You would only answer yes if you have money that you contributed separately from the funds that were contributed through your employer. A 401k account is a different account than an individual retirement account. You usually set a 401k account through your employer.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"