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Submitted By: someone
Answered: December 3, 2017 9:14 pm
Answered: December 3, 2017 9:14 pm
I’m in my company’s 401(k) plan. Do the investments I choose have anything to do with the time I’ve been with the company?
Whether an employee is eligible to participate in a company’s 401(k) plan may depend on satisfying a period of service there. But once in the plan, an employee can make investments from the menu of options offered. Check with the plan administrator about how often you can change investments; you may be limited to doing this once a year or at some other interval.
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Deductions
Items directly reducing income. Personal deductions such as for mortgage interest, state and local taxes, and charitable contributions are allowed only if deductions are itemized on Schedule A, but deductions such as for alimony, capital losses, moving expenses to a new job location, business losses, student loan interest, and IRA and Keogh deductions are deducted from gross income even if itemized deductions are not claimed.
