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This year, I maxed out my 401K contribution by early Sept. ($10 500), but found out by accident that my employers payroll company has continued pulling additional contributions from my paycheque.

I stopped the contributions, but now I'm about $1000 over (as of Oct 29).

Can I apply this extra $$ towards last year, when my 401K contribution was dramatically under the maximum? In other words, am I allowed to 'catch-up' for past years, when I didn't max out the 401K?

If not, what would be the best use of this additional contribution, since it may have to be taxed at normal rates?

Thx.

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