Can you contribute to a corporate 401k as well as a self-employed Solo 401k?

[fsewald]

Situation: Work a corporate job where I contribute to the company-sponsored 401k.  Also DoorDash on the side and will be filing a Schedule C.  Can I open and contribute to a Solo 401K?  Are there income limits (Married Filing Jointly) that affect this as well?  Also, over 50, so eligible for catch-up contributions.  

[conniem123]

Hi fsewald,

Hope you are having a great day!  Since you are employed by a second company and participating in its 401(k) plan, keep in mind that your limits on elective deferrals are by person, not by plan. You must consider the limit for all elective deferrals you make during a year.

Here is the 2023 contribution information,

https://www.irs.gov/retirement-plans/one-participant-401k-plans

I hope this is helpful!