My employer deferred 6% of my income in 2019 to my 401k. I would like to now contribute up to the maximum limit of 19,000 in order to reduce tax liability. However, turbotax is saying that my income is too high (above 74,000) to make a contribution to a traditional IRA. What's going on here? The IRS says you can contribute up to 19,000 (I am below age 50) but yet, it seems that I missed my opportunity to do so because I did not have my employers payroll department defer it? Why can I not simply contribute the difference now? How do I get through turbo tax's limitation?
Also my employer used to offer a pension plan benefit that was 3% of our annual compensation (they just concluded that program in 2019 and in future will offer only the 401k). The account was separate from our 401k. I am not clear about what kind of IRA that is and if it is included in the limit on contributing to a 401k.