topic Retirement 401k in Get your taxes done using TurboTax

Retirement 401k

21norman02 — Mon, 15 Feb 2021 12:37:02 GMT

Can I backdate into 2020 additional contributions to my employer sponsored 401K account? I did not have them deduct the limit for the year, but don't know if they will allow me to send money to add to my 401k for 2020. Is the decision up to the individual company? Is there a time limit other than 4-15-21?

Thanks.

Re: Retirement 401k

SteamTrain — Mon, 15 Feb 2021 15:32:32 GMT

For an employer sponsored 401k....31 December is the last day possible to have a contribution made thru payroll, or any other means......

So it's not exactly like an IRA, where you can contribute for the prior year in the first couple months of the next year.

Re: Retirement 401k

21norman02 — Wed, 17 Feb 2021 23:06:50 GMT

Thanks...that's the answer I needed.