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Can I max out my 401K by contributing to an IRA outside of my work. I switched jobs mid year and I did not max out my 401K and the new job did not offer a 401k until 2024

 
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MinhT1
Expert Alumni

Can I max out my 401K by contributing to an IRA outside of my work. I switched jobs mid year and I did not max out my 401K and the new job did not offer a 401k until 2024

No.

 

Contributions to your 401(k) can only be made by salary deferrals.

 

You are considered covered by a retirement plan at work for tax year 2023. You may be eligible to contribute to a deductible IRA, depending on your MAGI and your filing status.

 

See this IRS document.

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