☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Feb 27, 2021 9:46:43 PM

I want to lower how much i have to pay in Federal and state taxes for my 2020 taxes. Can i put additional funds into my 401K plan for 2020 in this year 2021? How to do?

0 1 312
1 Replies
Level 15
Feb 27, 2021 9:50:34 PM

No.  And 401(k) contributions can only come from your wages and reported in box 12 on the W-2 form for the year contributed.