Category

Retirement

Type

Above-Line

2025 Limit

$23,500 employee ($31,000 if 50+)

2026 Limit

$24,000 employee ($31,500 if 50+)

IRC Reference

IRC § 401(k)

Eligibility

Employees with qualifying employer plan

Notes / Description

Reduces AGI dollar-for-dollar. Does not require itemizing.