I have a client that switched jobs in 2021, his elected deferrals from one company was $12.5k and the other was $9.6k both are 401k's. Is there an election we can take to exclude the $2,600 overage from current year income?

I feel like I read that you can have multiple retirement accounts that exceed the limit provided there is no commonality or relationship in the business. Is that in a case for a individuals who have two different kinds of accounts like a SIMPLE and a 401k or would two of the same type of accounts qualify for that?

Thank you in advance for the help!

Signed, a very tired accountant.