deductible Definition
- 1able to be deducted, especially from taxable income or tax to be paid
- 2an amount of money that is subtracted from an insurance claim
Using deductible: Examples
Take a moment to familiarize yourself with how "deductible" can be used in various situations through the following examples!
Example
The interest on your mortgage is tax deductible.
Example
The insurance policy has a $500 deductible.
Example
The company offers a health plan with a $1,000 deductible.
deductible Synonyms and Antonyms
Synonyms for deductible
Antonyms for deductible
- non-deductible
- non-reducible
Phrases with deductible
a fixed amount that applies to all claims under an insurance policy
Example
The standard deductible for this car insurance policy is $250.
the amount of money that must be paid out-of-pocket by the policyholder before the insurance company will pay for any expenses
Example
The annual deductible for my health insurance is $2,000.
an expense that can be subtracted from taxable income, reducing the amount of tax owed
Example
Charitable donations are often tax deductible.
Summary: deductible in Brief
'Deductible' [dɪˈdʌktəbl] is an adjective and noun that refers to something that can be subtracted, especially from taxable income or tax to be paid. It also refers to an amount of money that is subtracted from an insurance claim. Examples include 'The interest on your mortgage is tax deductible.' and 'The insurance policy has a $500 deductible.' Phrases include 'standard deductible,' 'annual deductible,' and 'tax deductible.'
