Can I make an additional contribution to my 401k now to reduce my AGI for 2017? If so, what are the rules/limits?

[Rachel_W · Accepted solution]

No, you cannot make an additional contribution to your 401(k) now and have it reduce your AGI for 2017.

However, you may be eligible to make a Deductible Contribution to a Traditional IRA by April 17, 2018 and have it reduce your AGI for 2017.  Because you are covered by your Employer's 401(k) Plan, you will only be able to make a Deductible Traditional IRA Contribution if your income is below the phase-out range.

See the TurboTax FAQ below for the deduction phase-out range based on filing status :

https://ttlc.intuit.com/replies/3301534