deduct

verb

de·​duct di-ˈdəkt 

dē-

deducted; deducting; deducts

transitive verb

1

: to take away (an amount) from a total : subtract

2

: deduce, infer

Synonyms

• abate
• knock off
• subtract
• take off

Examples of deduct in a Sentence

You can deduct up to $500 for money given to charity.

after deducting taxes, what's left is your net pay for the week

Recent Examples on the Web

In the past, companies were able to deduct 100% of research and development expenses from their taxable income. —Mae Anderson, Quartz, 28 Mar. 2024

To deduct the amount on the 2023 return, though, contributions or purchases must have been made by Dec. 31, 2023. —Susan Tompor, Detroit Free Press, 19 Mar. 2024

For most older adults, Medicare premiums are deducted from their Social Security benefits each month. —Howard Gleckman, Forbes, 27 Feb. 2024

Not only did these nonprofit organizations pay no income taxes on the income, but TV networks got to deduct the licensing fees as a cost of doing business. —Scott Hodge, Orange County Register, 26 Feb. 2024

There are more than 10,000 corporate jets in the US., according to the IRS, valued at tens of millions of dollars and many can be fully deducted. —Fatima Hussein, Fortune, 22 Feb. 2024

When executives use a plane for personal purposes, the company can’t deduct that — and the executives are supposed to report the trips on their own tax returns as income received. —Julie Weil, Washington Post, 21 Feb. 2024

The allowance was eliminated in 1975 for large producers and reduced for smaller companies, which are still allowed to deduct 15 percent of their revenue from their taxable income. —Lisa Friedman, New York Times, 15 Mar. 2024

According to those who endured the program, which operated under a system that deducted and added points toward securing their release, there were penalties for trying to write parents and family alerting them to what was really happening. —Brian Lowry, CNN, 5 Mar. 2024

Word History

Etymology

Latin deductus, past participle of deducere

First Known Use

15th century, in the meaning defined at sense 1

Kids Definition

deduct

verb

de·​duct di-ˈdəkt 

: to take away (an amount) from a total : subtract

deductible

-ˈdək-tə-bəl

adjective

Legal Definition

deduct

transitive verb

de·​duct

: to take away (an amount) from a total

specifically : to take as a deduction

must be capitalized…rather than immediately deducted

—D. Q. Posin

compare amortize