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Explain the differences in how a 401k, a Roth IRA, and a traditional IRA are taxed. (1 point) A 401k allows tax deductions when the money is deposited and then the money is taxed when it is withdrawn;

asked May 15, 2022 14.3k views

Explain the differences in how a 401k, a Roth IRA, and a traditional IRA are taxed. (1 point)

A 401k allows tax deductions when the money is deposited and then the money is taxed
when it is withdrawn; a Roth IRA is taxed when the money is deposited; and a traditional
IRA is taxed when the money is withdrawn.
A 401k is taxed when the money is deposited; a Roth IRA allows tax deductions when the
money is deposited and then the money is taxed when it is withdrawn; and a traditional
IRA is taxed when the money is withdrawn.
A 401k is taxed when the money is withdrawn; a Roth IRA is taxed when the money is
deposited; and a traditional IRA allows tax deductions when the money is deposited and
then the money is taxed when it is withdrawn.
A 401k is taxed when the money is withdrawn; a Roth IRA allows tax deductions when the
money is deposited and then the money is taxed when it is withdrawn; and a traditional
IRA is taxed when the money is deposited.

Explain the differences in how a 401k, a Roth IRA, and a traditional IRA are taxed-example-1

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by Jose Ananio

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Miguel Ruivo · Answer 1 · 2022-05-19T08:51:13+0000

Answer:

A 401K is taxed when the money is withdrawn a Roth ira is taxed when the money is deposited and a traditional ira allows tax deductions when the money is deposited and then the money is taxed when it is withdrawn.

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