I contribute to my 401k at work can i claim the full amount of $6600 I am 64 and make under $59.000 gross jointly?

cturner353 · ‎June 6, 2019

PaulaM · ‎June 6, 2019

When you contribute to a 401k, your wages are reduced by your $6,600 contribution and taxes are then computed on the reduced wages.

There isn't anything to claim or deduct on your tax return if you contribute to a 401K (contributions to traditional IRA's may be deductible). Enter your W-2 form only. It will contain the 401K contribution in box 12.

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PaulaM · ‎June 6, 2019

When you contribute to a 401k, your wages are reduced by your $6,600 contribution and taxes are then computed on the reduced wages.

There isn't anything to claim or deduct on your tax return if you contribute to a 401K (contributions to traditional IRA's may be deductible). Enter your W-2 form only. It will contain the 401K contribution in box 12.

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

SweetieJean · ‎June 6, 2019

OP is asking about an IRA contribution.

SweetieJean · ‎June 6, 2019

https://www.irs.gov/retirement-plans/2017-ira-deduction-limits-effect-of-modified-agi-on-deduction-i...

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I contribute to my 401k at work can i claim the full amount of $6600 I am 64 and make under $59.000 gross jointly?