I started working for CA state in Nov'23. My 457b account is not yet open. Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage?

I can open an IRA but my spouse has a 401k and our total MAGI may be higher than IRS limits, so I may not get tax advantage with IRA. Unless there is a way.

607

1 Best answer

Level 15

Dec 29, 2023 3:55:31 PM

Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage? NO... contributions to a 457b for 2023 must be made in 2023...too late now.

Level 15

Dec 29, 2023 11:30:20 AM

@Critter-3

New Member

Dec 29, 2023 1:13:36 PM

Sorry @Anonymous_ - did you mean to add a reply? Or were you asking @Critter-3 to weigh in on this?

Level 15

Dec 29, 2023 1:21:44 PM

Yes, waiting for @Critter-3

Level 15

Dec 29, 2023 3:55:31 PM

Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage? NO... contributions to a 457b for 2023 must be made in 2023...too late now.

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I started working for CA state in Nov'23. My 457b account is not yet open. Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage?

Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage? NO... contributions to a 457b for 2023 must be made in 2023...too late now.

Can I contribute to 457b before Tax-day in 2024 to get 2023 tax deferred advantage? NO... contributions to a 457b for 2023 must be made in 2023...too late now.