deductible

[dih-duhk-tuh-buhl]
adjective
1.
capable of being deducted.
2.
allowable as a tax deduction: Charitable contributions are deductible expenses.
noun
3.
the amount for which the insured is liable on each loss, injury, etc., before an insurance company will make payment: The deductible on our medical coverage has been raised from $50 to $100 per illness.

Origin:
1855–60; deduct + -ible

deductibility, noun
nondeductibility, noun
nondeductible, adjective, noun
undeductible, adjective

deducible, deductible.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
deductible (dɪˈdʌktɪbəl)
 
adj
1.  capable of being deducted
2.  (US), (Canadian) short for tax-deductible
 
n
3.  (US), (Canadian) insurance Also called (in Britain and certain other countries): excess a specified contribution towards the cost of a claim, stipulated on certain insurance policies as being payable by the policyholder
 
deducti'bility
 
n

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Etymonline
Word Origin & History

deductible
1610s, "that may be deduced," also "that may be deducted;" from L. deducere (see deduce).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
The errors have been both ways--deductible items have been omitted, and other
  items that are not deductible have been included.
Interest income is usually taxable, whereas some countries allow mortgage
  payments to be tax deductible.
The government notes that a deductible will apply for some fees, but the
  details remain unclear.
Cape related incidents will be covered under a higher deductible.
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