Legal Terms
deduction
In tax law, an amount that you can subtract from the total amount of income on which you owe tax. Examples of federal income tax deductions include mortgage interest, charitable contributions, and certain state taxes.
In tax law, an amount that you can subtract from the total amount of income on which you owe tax. Examples of federal income tax deductions include mortgage interest, charitable contributions, and certain state taxes.
© 2025 LAWYER.COM INC.
Use of this website constitutes acceptance of Lawyer.com’s Terms of Use, Email, Phone, & Text Message and Privacy Policies.