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

jtam-weber · ‎June 3, 2019

MaryK1 · ‎June 3, 2019

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

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View solution in original post

MaryK1 · ‎June 3, 2019

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

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

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