MinhT1
Expert Alumni

Get your taxes done using TurboTax

No. 

 

401(k) contributtions and IRA contributions are 2 different things and are subject to different lomits and rules.

 

For 2021, you are allowed to contribute up $19,500 to to your 401(k) plan (plus a catch up of $6,500 if you are over 50).

 

Your eligibility to contribute to a deductible IRA does not depend on the amount already contributed to your 401(k) plan, but on your filing status and your MAGI.

 

Please read this IRS document to find out if you are eligible to contribute to a deductible IRA. 

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