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February 3, 2025
Question

why didnt my 401k deduction reduce my taxable income

  • February 3, 2025
  • 1 reply
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    1 reply

    VolvoGirl
    Employee
    February 3, 2025

    It already did on your W2.  It is pre-tax which means it has already been deducted from the wages in box 1.  Notice that box 1 is less than boxes 3 & 5 on the W2.