Taxes Q & A- Can I take an IRA deduction for

Can I take an IRA deduction for the amount I contributed to a 401(k) plan last year?

No. A 401(k) plan is not an IRA. However, the amount you contributed is not included as income in box 1 of your W-2 form so you don't pay tax on it in the year you make the contribution. For more information, refer to Tax Topic 424, 401(k) Plans, Publication 575, Pension and Annuity Income, or Publication 560, Retirement Plans for Small Business.

References:

Publication 575, Pension and Annuity Income

Publication 560, Retirement Plans for Small Business (SEP, Simple, and Qualified Plans)

Tax Topic 424, 401(k) Plans

Source: www.irs.gov