On most frames, yes, you can put as much of the post into the frame as you'd like. However, you are likely to remove graphics, and scratch the top coat of the carbon, so if you care about things like that, don't put it farther into the frame than is necessary.
If it is a permanent position, cut it, as suggested above. Be sure to check the manufacturers' recommendations for your post. Not every post can be cut to any length.
If you need to, try to put it at that position, gently. If anything stops, sticks, blocks it, or doesn't feel right, stop.