HomeDefinitionsCompareDebt DeductionThe financial definition for Deduction:An expense that is allowable as a reduction of gross taxable income by the IRS e.g., charity donations. Similar MatchesDividends received deductionDividends received deductionA corporate tax deduction on income allowed by company A that is in ownership of shares of company B and receives dividends on the shares of company B. Interest deductionInterest deductionAn interest expense, such as interest on a margin account, that is allowed as a deduction for tax purposes. Itemized deductionItemized deductionSpecific deductions allowed by the IRS outlined in the tax return. Further SuggestionsMarital deductionMortgage interest deduction Standard deduction Tax deduction Unlimited marital deduction Click to compare definitions of Deduction Click to view definitions beginning de |