My 57-yr old wife contributed $21,600 to her 401K in 2016. Can we top up her contribution NOW to $24,000 and get the additional reduction in taxable income for 2016?
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1 Best answer
Coleen3
Intuit Alumni
Jun 4, 2019 1:48:43 PM
No, it is not the same thing as contributing to an IRA. Contributions are made through payroll and your employer who has set up a plan through the company.
1 Replies
Coleen3
Intuit Alumni
Jun 4, 2019 1:48:43 PM
No, it is not the same thing as contributing to an IRA. Contributions are made through payroll and your employer who has set up a plan through the company.