Can both my wife and I contribute to a nondeductible IRA? wording unclear IRS https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms#Form8606

[kric]

We are over the limits for a deductible traditional IRA but still want to take advantage of the deferred tax using a non-deductible traditional IRA. Form 8606 has some unclear wording. Seems odd that both my wife and I would not be able to contribute in the same year. This IRS.gov link https://www.irs.gov/e-file-providers/list-of-available-free-file-fillable-forms#Form8606 states "Each taxpayer and spouse on the return is able to add one Form 8606 to the return. You cannot add more than one Form 8606 for either the Taxpayer or Spouse." Does that mean one for myself and one for spouse, or one total between the 2 of us?

[Coleen3 · Accepted solution]

You can each contribute to a Non-deductible IRA and you can each have one Form 8606.