Yes, you can make the contributions to a traditional IRA.  If you cannot deduct the amount, it will be part of your basis and not taxed when you take it out of the account.  You must file Form 8606 to report nondeductible contributions- TurboTax will do this for you.

Thanks, And can we each contribute the $7K max for both years?

Yes, but you only report the contributions for 2020 on this tax return.   Your 2021 contributions will go on next year's tax return.   For 2020 and 2021, the total contributions you make each year to all of your traditional IRAs  and Roth IRAs can't be more than:

• $6,000 ($7,000 if you're age 50 or older), or
• If less, your taxable compensation for the year

Your traditional IRA contributions may be tax-deductible. The deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels.

• IRA deduction limits

Roth IRA contribution limit

In addition to the general contribution limit that applies to both Roth and traditional IRAs, your Roth IRA contribution may be limited based on your filing status and income.

• 2021 - Amount of Roth IRA Contributions You Can Make for 2021
• 2020 - Amount of Roth IRA Contributions You Can Make for 2020