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New Member
posted Jun 3, 2019 12:41:36 PM

Can I take full deduction for a 401k contribution made before 4/18/17?

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1 Best answer
Level 9
Jun 3, 2019 12:41:37 PM

No, 401k are deferred compensation plans through your employer.  The contributions are taken from your compensation before it is taxed (unless it is a designated ROTH 401k contribution)

HOWEVER, you may be able to take a deduction for a traditional IRA contribution made before April 18, 2017

1 Replies
Level 9
Jun 3, 2019 12:41:37 PM

No, 401k are deferred compensation plans through your employer.  The contributions are taken from your compensation before it is taxed (unless it is a designated ROTH 401k contribution)

HOWEVER, you may be able to take a deduction for a traditional IRA contribution made before April 18, 2017