topic No, you husband cannot make an additional elective deferr... in Retirement tax questions

Additional 401K contribution before April 15?

Sunstar — Tue, 04 Jun 2019 23:16:51 GMT

We are both over 59 and will both will make the max traditional IRA contributions of $6500 each prior to April 15.

I'm self employed and TurboTax says I can max out my own SEP by contributing $3242.

My husband has a traditional 401k at work that he has been contributing to via payroll deductions and there's an employer match. His contributions via payroll deductions totalled around $2000 in 2018.

Our AGI for 2018 is just under $58,000

I see that we could have made up to $18,500 plus $6000 in contributions for 2018 and I would like to know if we can make an additional contribution to his 401k before April 15, 2019 and have it be deductible?

If we can still make an additional contribution for 2018 - where do I enter it in Turbo Tax Home and Business?

No, you husband cannot make an additional elective deferr...

dmertz — Tue, 04 Jun 2019 23:16:53 GMT

No, you husband cannot make an additional elective deferral to his 401(k) for 2018. His elective deferrals to his 401(k) needed to have been made from his pay by payroll deduction by year end. Money cannot be deposited to his 401(k) from your savings.

Thank you for answering my question

Sunstar — Tue, 04 Jun 2019 23:16:54 GMT

Thank you for answering my question