Whether or not you or your spouse can make a Deductible IRA Contribution depends on your joint Modified Adjusted Gross Income (MAGI) since both you and your spouse are "covered" by an Employer-Sponsored Retirement Plan.
Since you are both covered by an Employer Sponsored Retirement Plan, the ability to make a Deductible Traditional IRA contribution is phased out when your MAGI (Modified Adjusted Gross Income) hits $121,000, so you are not eligible to make a deductible traditional IRA contribution. However, you can each choose to make a non-deductible traditional IRA contribution which would be reported on Form 8606.
You are also eligible to make Roth IRA contributions. When Married Filing Joint, your ability to make ROTH IRA Contributions, which are not tax deductible, phases out when your MAGI is between $189,000 and $199,000.
You have until 4/15/19 to make a non-deducible Traditional IRA or Roth IRA Contribution for 2018. The limit is $5,500 each ($6,500 if over 55).
You can check out this IRS link for more about these limitations: IRA Limits.
For additional details, you check out the TurboTax FAQ below: https://ttlc.intuit.com/replies/3301534
