If both you and your spouse work and both have taxable compensation, each of you can contribute to a separate traditional IRA.

The amount that you can contribute to each IRA is subject to a limit that can be found in Publication 590.

Contributions can be made even if one spouse has little or no compensation, if you file a joint return.

Your total contribution to both your IRA and the spousal IRA for this year is limited by certain factors such as your taxable compensation, contributions to a traditional or Roth IRA and your age.

The amount contributed to a 401(k) plan cannot be used as an IRA deduction.

The amount you contributed to a 401(k) plan is not included as income in box 1 of your W-2 form so you don't pay tax on it in the year you make the contribution.