Business, 28.12.2020 09:10 BWomack214

Awnser asap i will give brainlist Which statement describes the effect of taxes on a traditional 401(k) retirement account?

A.

A traditional 401(k) is tax exempt because the income earned isn’t taxed until the money is withdrawn.

B.

A traditional 401(k) is a taxable account because the income earned is taxed when it is contributed.

C.

A traditional 401(k) is tax deferred because the income earned isn’t taxed until the money is withdrawn.

D.

A traditional 401(k) is tax exempt because the income earned is never taxed.

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