401(k) contributions
Up to $24,500
Can You Write Off 401 Contributions?
Short answer: Yes, in effect: traditional 401(k) contributions (up to $24,500 for 2026) come out of your paycheck pre-tax.
They lower your W-2 wages, so there's no separate line on your return. Roth 401(k) dollars are after-tax.
Records to keep: Keep receipts, statements (1098, 1098-T, 1099, W-2G), and a note of what each cost was for. Compare itemizing to the 2026 standard deduction before you claim.
401(k) contributions
Typical range: Up to $24,500
Individuals / Personal Taxes
Yes, in effect: traditional 401(k) contributions (up to $24,500 for 2026) come out of your paycheck pre-tax.
Business justification
Yes, in effect: traditional 401(k) contributions (up to $24,500 for 2026) come out of your paycheck pre-tax. They lower your W-2 wages, so there's no separate line on your return. Roth 401(k) dollars are after-tax.
Category
- Personal Tax Deductions