Deduction definition | Dictionary.com

Synonyms

Nearby Entries

Deduction - 9 dictionary results

Deduction
Instant Calculations of Witholdings 100% Accuracy Guaranteed. Act Now.
www.BankofAmerica.com/Payroll

TurboTax Free Fed Edition
For a Simple Return, It’s the Way to Go! File Taxes Free & Easy Now.

www.turbotax.com

de⋅duc⋅tion

[di-duhk-shuh

Use Deduction in a Sentence

–noun

1.	the act or process of deducting; subtraction.

2.	something that is or may be deducted: She took deductions for a home office and other business expenses from her taxes.

3.	the act or process of deducing.

4.	something that is deduced: His astute deduction was worthy of Sherlock Holmes.

Logic.

a.	a process of reasoning in which a conclusion follows necessarily from the premises presented, so that the conclusion cannot be false if the premises are true.

b.	a conclusion reached by this process. Compare induction (def. 4).

Origin:
1400–50; late ME deduccioun (< AF) < L dēductiōn- (s. of dēductiō) a leading away. See deduct, -ion

Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source

Link To Deduction

de·duc·tion (dĭ-dŭk'shən)

The act of deducting; subtraction.
An amount that is or may be deducted: tax deductions.
The drawing of a conclusion by reasoning; the act of deducing.
Logic
1. The process of reasoning in which a conclusion follows necessarily from the stated premises; inference by reasoning from the general to the specific.
2. A conclusion reached by this process.

The American Heritage® Dictionary of the English Language, Fourth Edition
Copyright © 2009 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source

Deduction

De*duc"tion\, n. [L. deductio: cf. F. d['e]duction.]

1. Act or process of deducing or inferring.

The deduction of one language from another. --Johnson.

This process, by which from two statements we deduce a third, is called deduction. --J. R. Seely.

2. Act of deducting or taking away; subtraction; as, the deduction of the subtrahend from the minuend.

3. That which is deduced or drawn from premises by a process of reasoning; an inference; a conclusion.

Make fair deductions; see to what they mount. --Pope.

4. That which is deducted; the part taken away; abatement; as, a deduction from the yearly rent.

Syn: See Induction.

Webster's Revised Unabridged Dictionary, © 1996, 1998 MICRA, Inc.
Cite This Source

Language Translation for : Deduction

Spanish: deducción,

German: die Schlußfolgerung,

Japanese: 推論すること

More Translations »

deduction

A process of reasoning that moves from the general to the specific. (Compare induction.)

deduction

A cost or expense subtracted from revenue, usually for tax purposes.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
Cite This Source

Deduction

Any item or expenditure subtracted from gross income to reduce the amount of income subject to tax.

Also referred to as "allowable deduction."

Investopedia Commentary

For example, if you make $40,000 and you have a deduction for $1,000, then your taxable income is reduced to $39,000.

See also: Income Tax, Write Off

deduction

An expenditure that may legally be used to reduce an individual's income-tax liability. Potential deductions of particular interest to investors are expenditures for subscriptions to financial publications, a lock box for storing securities, and computer software for investment-related activities. These deductions, combined with employee business expenses and miscellaneous deductions, may be subtracted from a person's taxable income only to the extent their total exceeds 2% of that person's adjusted gross income. Interest paid on loans used to finance investments is deductible only against investment income. Also called itemized deduction, tax deduction. See also charitable contribution deduction.

Main Entry: de·duc·tion
Function: noun
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 in the IMPORTANT LAWS section —compare CREDIT, EXCLUSION, EXEMPTION

busi·ness 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)

de·pen·den·cy 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
1 : 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
2 : a deduction allowed under the IRC of the value of any gift inter vivos subject to gift tax by one spouse to the other

per·son·al 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

stan·dard 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 (dĭ-dŭk'shən) Pronunciation Key

The process of reasoning from the general to the specific, in which a conclusion follows necessarily from the premises.
A conclusion reached by this process.

Our Living Language : The logical processes known as deduction and induction work in opposite ways. In deduction general principles are applied to specific instances. Thus, using a mathematical formula to figure the volume of air that can be contained in a gymnasium is applying deduction. Similarly, applying a law of physics to predict the outcome of an experiment is reasoning by deduction. By contrast, induction makes generalizations based on a number of specific instances. The observation of hundreds of examples in which a certain chemical kills plants might prompt the inductive conclusion that the chemical is toxic to all plants. Inductive generalizations are often revised as more examples are studied and more facts are known. If certain plants that have not been tested turn out to be unaffected by the chemical, the conclusion about the chemical's toxicity must be revised or restricted. In this way, an inductive generalization is much like a hypothesis.

Search another word or see Deduction on Thesaurus | Reference

Deduction
Instant Calculations of Witholdings 100% Accuracy Guaranteed. Act Now.
www.BankofAmerica.com/Payroll

TurboTax Free Fed Edition
For a Simple Return, It’s the Way to Go! File Taxes Free & Easy Now.

www.turbotax.com

About · Privacy Policy · Terms of Use · Advertise with Us · Link to Us · NASCAR® · Contact Us