Deductible (Adjective)
Meaning
Acceptable as a deduction (especially as a tax deduction).
Classification
All adjective clusters.
Examples
- Medical expenses that exceed 10% of your adjusted gross income are deductible on your tax return.
- The home office space was considered deductible business use of her residence.
- Donations to registered charities are deductible against taxable income.
- Interest paid on a home mortgage is deductible for tax purposes.
- Charitable contributions made in the past year are deductible in this tax filing season.