Definition of DEDUCTIBLE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DEDUCTIBLE
That which may be taken away or subtracted; an item which may be subtracted from income for tax purposes, such as a deductible debt. In re Hermann's Estate, 349 Pa. 230, 36 A.2d 804, 806; a deductible expense. Pacific Southwest Realty Co. v. McColgan, 53 Cal.App. 2d 549, 128 P.2d 86, 87, or; a deductible loss. Helvering v. Gordon, C.C.A.4, 134 F.2d 685, 689; Bickerstaff v. Commissioner of Internal Revenue, C.C. A.Ga., 128 F.2d 366, 367.
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That's the definition of DEDUCTIBLE in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
