How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask jgordosea Your Own Question
jgordosea, Enrolled Agent
Category: Tax
Satisfied Customers: 3159
Experience:  I've prepared all types of taxes since 1987.
Type Your Tax Question Here...
jgordosea is online now
A new question is answered every 9 seconds

what is the difference between a 401k and a 408k

Customer Question

No Comment Added
Submitted: 9 years ago.
Category: Tax
Expert:  jgordosea replied 9 years ago.

Plans qualified under Internal Revenue Code (IRC) Section 401(a), including pension, profit-sharing, stock bonus, and 401(k) plans are often referred to as "qualified" plans.

Simplified Employee Pensions Plan (SEP) are under IRC, Section 408(k).

At Fidelity has good basis information on both the SEP-IRA, 401(k) and self emploked 401(K) plans.

I hope this helps.




Related Tax Questions