Definitions (2)

1. An item or expense subtracted from adjusted gross income to reduce the amount of income subject to tax. Examples include mortgage interest, state and local taxes, unreimbursed business expenses, and charitable contributions. also called tax-deductible.
2. The amount of a loss that an insurance policy holder has to pay out-of-pocket before reimbursement begins in accordance with the coinsurance rate.

Use deductible in a sentence

The deductible had not been met so that would be an additional thousand dollars we would have to pay because of the accident.

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Make sure that you save all of the receipts from the business trip because they are deductible from your taxes this upcoming period.

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Legitimate use of funds for ethically warranted expenses incurred in operating a business interest are considered deductible when calculating net income for the purpose of paying income taxes.

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collision coverage 1120-F Form Schedule I