We have a 401k account. Can we make a deposit in that account, like and IRA, to reduce what we owe this year.

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On an Employer sponsored 401k account, no you cannot contribute to the account in 2017 and apply those contributions to the 2016 tax return.

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On an Employer sponsored 401k account, no you cannot contribute to the account in 2017 and apply those contributions to the 2016 tax return.

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