IRA deduction for 401(k) plan
Answer:
Contributions to your 401(k) plan are not the same as an IRA deduction.
The amount you contributed to the 401(k) plan reduces the taxable wages reported in box 1 of your W-2 form.
The amount you contributed to the 401(k) plan reduces the taxable wages reported in box 1 of your W-2 form.
