deduct

American  

[dih-duhkt] / dɪˈdʌkt /

verb (used with object)

1. to take away, as from a sum or amount.

   Once you deduct your expenses, there is nothing left.

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verb (used without object)

1. detract; abate (usually followed byfrom ).

   The rocky soil deducts from the value of his property.

deduct British  

/ dɪˈdʌkt /

verb

1. (tr) to take away or subtract (a number, quantity, part, etc)

   income tax is deducted from one's wages

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Related Words

See subtract.

Other Word Forms

• prededuct verb (used with object)
• undeducted adjective

Etymology

Origin of deduct

First recorded in 1375–1425; late Middle English, from Latin dēductus “brought down, withdrawn,” past participle of dēdūcere; deduce

Example Sentences

Or will the outstanding balance be deducted from your inheritance?

From MarketWatch

This popular provision, also known as the 199A deduction, allows owners of pass-through entities such as partnerships and sole proprietorships that report results on their owners’ returns to deduct up to 20% of business income.

From The Wall Street Journal

For instance, there are earnings limitations for people who are receiving benefits but still working before full retirement age, and the agency will deduct money from benefits temporarily if you exceed those limitations.

From MarketWatch

But one thing to be mindful of is that you can only deduct qualified medical expenses that exceed 7.5% of adjusted gross income, and Roth conversions increase that.

From MarketWatch

Additionally, Americans will be able to deduct interest paid on loans used to purchase a qualified vehicle, and many seniors ages 65 or older may claim an additional $6,000 deduction.

From Barron's

Related Words

• reduce
• subtract
• withdraw
• write off