401(<) the contributions are tax deductible, and income generated by the account is 401(k), the contributions are taxable when deposited, but when the money is withdrawn at retirerment they are
In a traditional
In a Roth

Key Takeaways. Contributions to traditional 401(k)s or other qualified retirement plans are made with pretax dollars, and so are deductible from your taxable income. You can contribute up to $19,500 a year to such a plan in 2020 and 2021. hope this helps

Step-by-step explanation: :)

step-by-step explanation:

for the free

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