deduction

noun

de·duc·tion di-ˈdək-shən How to pronounce deduction (audio)

dē-

: an act of taking away

deduction of legitimate business expenses

: something that is or may be subtracted

deductions from his taxable income

: the deriving of a conclusion by reasoning

based on intuition rather than deduction

specifically : inference in which the conclusion about particulars follows necessarily from general or universal premises (see premise entry 1 sense 1) compare induction

: a conclusion reached by logical deduction

made the deduction that the suspect had been at the scene of the crime

Example Sentences

The government is offering new tax deductions for small businesses. What is your pay after the deductions have been taken out? His guess was based on intuition rather than deduction. Our deduction was based on the information given to us at the time. It was a logical deduction.

Recent Examples on the Web For the 2022 tax year, the maximum deduction is $300, up from $250 for 2021.

Tom Herman, WSJ, 8 Sep. 2022 An above-the-line deduction is one that is subtracted from your gross income to determine your AGI.

Tom Cooney And Crystal Faulkner, The Enquirer, 19 July 2022 The 2017 Tax Cuts and Jobs Act nearly doubled the standard deduction, resulting in fewer taxpayers itemizing deductions on their tax returns.

Michelle Singletary, Washington Post, 13 July 2022 Besides, the deduction for volunteering is just 14 cents a mile — a rate that hasn’t budged in more than a decade and won't change anytime soon.

Russ Wiles, USA TODAY, 19 June 2022 Besides, the deduction for volunteering is just 14 cents a mile — a rate that hasn’t budged in more than a decade and won't change anytime soon.

Russ Wiles, The Arizona Republic, 19 June 2022 The laws also envision adjusting the standard income tax deduction by the cost of living in future tax years and gradually reducing the top corporate income tax rate from 5.9% to 5.3% on Jan. 1, 2025, under certain conditions.

Michael R. Wickline, Arkansas Online, 23 Apr. 2022 The deduction is fully available to people who aren't covered by a retirement plan at their workplace.

Aimee Picchi, CBS News, 14 Apr. 2022 For 2022, the standard deduction will be $12,950 for individuals or married people filing separately and $25,900 for married couples filing jointly.

Los Angeles Times, 29 Mar. 2022 See More

Legal Definition

deduction

noun

de·duc·tion

: an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also Internal Revenue Code compare credit, exclusion, exemption

— business deduction

: a deduction usually taken from gross income that is allowed for losses or expenses attributable to business activities or to activities engaged in for profit

— charitable deduction

: a deduction allowed for a contribution to a charity usually that is qualified under the tax law (as sections 170 and 2055 of the Internal Revenue Code)

— dependency deduction

: a deduction allowed to be taken in a set amount for a qualified dependent (as under sections 151 and 152 of the Internal Revenue Code)

— itemized deduction

: a deduction for a specifically recorded item that is allowed to be taken from adjusted gross income if the total of such deductions exceeds the standard deduction

— marital deduction

: a deduction allowed under the Internal Revenue Code to be taken from the gross estate that amounts to the value of any property interest which is included in the estate and which was given by a decedent to the surviving spouse provided that the interest is not terminable during the life of the survivor

: a deduction allowed under the Internal Revenue Code of the value of any gift inter vivos subject to gift tax by one spouse to the other

— personal deduction

: a deduction allowed to be taken for losses or expenses that are not necessarily attributable to a business activity or an activity engaged in for profit

— personal exemption deduction

: a deduction for an amount set by tax law that under section 151 of the Internal Revenue Code includes the dependency deduction

— standard deduction

: a deduction of an amount set by tax law that is allowed to be taken from adjusted gross income unless the taxpayer elects to itemize deductions

in the civil law of Louisiana : an item of property or an amount that an heir has a right to take from the mass of the succession before any of it is partitioned (as for a debt owed by the deceased to the heir)

单词	deduction
释义	deduction noun de·duc·tion di-ˈdək-shən dē- 1 a : an act of taking away deduction of legitimate business expenses b : something that is or may be subtracted deductions from his taxable income 2 a : the deriving of a conclusion by reasoning based on intuition rather than deduction specifically : inference in which the conclusion about particulars follows necessarily from general or universal premises (see premise entry 1 sense 1) compare induction b : a conclusion reached by logical deduction made the deduction that the suspect had been at the scene of the crime Synonyms abatement discount reduction See all Synonyms & Antonyms Example Sentences The government is offering new tax deductions for small businesses. What is your pay after the deductions have been taken out? His guess was based on intuition rather than deduction. Our deduction was based on the information given to us at the time. It was a logical deduction. Recent Examples on the Web For the 2022 tax year, the maximum deduction is $300, up from $250 for 2021. Tom Herman, WSJ, 8 Sep. 2022 An above-the-line deduction is one that is subtracted from your gross income to determine your AGI. Tom Cooney And Crystal Faulkner, The Enquirer, 19 July 2022 The 2017 Tax Cuts and Jobs Act nearly doubled the standard deduction, resulting in fewer taxpayers itemizing deductions on their tax returns. Michelle Singletary, Washington Post, 13 July 2022 Besides, the deduction for volunteering is just 14 cents a mile — a rate that hasn’t budged in more than a decade and won't change anytime soon. Russ Wiles, USA TODAY, 19 June 2022 Besides, the deduction for volunteering is just 14 cents a mile — a rate that hasn’t budged in more than a decade and won't change anytime soon. Russ Wiles, The Arizona Republic, 19 June 2022 The laws also envision adjusting the standard income tax deduction by the cost of living in future tax years and gradually reducing the top corporate income tax rate from 5.9% to 5.3% on Jan. 1, 2025, under certain conditions. Michael R. Wickline, Arkansas Online, 23 Apr. 2022 The deduction is fully available to people who aren't covered by a retirement plan at their workplace. Aimee Picchi, CBS News, 14 Apr. 2022 For 2022, the standard deduction will be $12,950 for individuals or married people filing separately and $25,900 for married couples filing jointly. Los Angeles Times, 29 Mar. 2022 See More Word History Etymology see deduct First Known Use 15th century, in the meaning defined at sense 1a Phrases Containing deduction payroll deduction payroll deduction Kids Definition deduction noun de·duc·tion di-ˈdək-shən 1 : subtraction 2 : an amount deducted 3 : a conclusion reached by reasoning Her deduction was based on all the clues. Legal Definition deduction noun de·duc·tion 1 : an amount allowed by tax laws to be subtracted from income in order to decrease the amount of income tax due see also Internal Revenue Code compare credit, exclusion, exemption — business deduction : a deduction usually taken from gross income that is allowed for losses or expenses attributable to business activities or to activities engaged in for profit — charitable deduction : a deduction allowed for a contribution to a charity usually that is qualified under the tax law (as sections 170 and 2055 of the Internal Revenue Code) — dependency deduction : a deduction allowed to be taken in a set amount for a qualified dependent (as under sections 151 and 152 of the Internal Revenue Code) — itemized deduction : a deduction for a specifically recorded item that is allowed to be taken from adjusted gross income if the total of such deductions exceeds the standard deduction — marital deduction : a deduction allowed under the Internal Revenue Code to be taken from the gross estate that amounts to the value of any property interest which is included in the estate and which was given by a decedent to the surviving spouse provided that the interest is not terminable during the life of the survivor : a deduction allowed under the Internal Revenue Code of the value of any gift inter vivos subject to gift tax by one spouse to the other — personal deduction : a deduction allowed to be taken for losses or expenses that are not necessarily attributable to a business activity or an activity engaged in for profit — personal exemption deduction : a deduction for an amount set by tax law that under section 151 of the Internal Revenue Code includes the dependency deduction — standard deduction : a deduction of an amount set by tax law that is allowed to be taken from adjusted gross income unless the taxpayer elects to itemize deductions 2 in the civil law of Louisiana : an item of property or an amount that an heir has a right to take from the mass of the succession before any of it is partitioned (as for a debt owed by the deceased to the heir) deduction noun 1 as in reduction something that is or may be subtracted contestants get a deduction from their scores for every incorrect guess Synonyms & Similar Words Relevance reduction discount abatement depreciation rebate drop forfeiture penalty loss diminution decline forfeit decrement dent giveback kickback diminishment fall Antonyms & Near Antonyms addition increase increment gain accession rise accrual appreciation boost raise accretion augmentation See More 2 as in subtraction the act or an instance of taking away from a total the deduction of the amount awarded to the plaintiff in order to pay the legal fees Synonyms & Similar Words reduction subtraction discount rebate decline drop diminution abatement loss shrinkage decrement curtailment kickback cutback giveback cut diminishment detraction fall Antonyms & Near Antonyms addition increase increment gain accession rise boost accumulation enlargement raise accrual supplement supplementation appendix accretion augmentation addendum See More 3 as in inference an opinion arrived at through a process of reasoning his impressive deduction of the correct answer from only a few hints Synonyms & Similar Words inference determination conclusion induction decision assumption consequence diagnosis eduction verdict sequitur ruling judgment conjecture guess resolution judgement surmise presumption deliverance supposition
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deduction

noun

Synonyms

Example Sentences

Word History

Phrases Containing deduction

Kids Definition

noun

Legal Definition

noun

noun