turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Our Community is moving to a new platform on June 8th! Read more here!!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

3467xx
New Member

Can i deduct my contributions to a 457 deferred savings plan

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
PaulaM
Employee Tax Expert

Can i deduct my contributions to a 457 deferred savings plan

No, deferrals are already pre-tax.

According to IRS Retirement Topics - Contributions, if your plan allows after-tax contributions they are not excluded from your income and you cannot deduct them on your tax return.

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

View solution in original post

1 Reply
PaulaM
Employee Tax Expert

Can i deduct my contributions to a 457 deferred savings plan

No, deferrals are already pre-tax.

According to IRS Retirement Topics - Contributions, if your plan allows after-tax contributions they are not excluded from your income and you cannot deduct them on your tax return.

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question