deduction

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deduction

 [de-duk´shun]
reasoning in which the conclusion follows necessarily from the premises; reasoning from the general to the particular.
Miller-Keane Encyclopedia and Dictionary of Medicine, Nursing, and Allied Health, Seventh Edition. © 2003 by Saunders, an imprint of Elsevier, Inc. All rights reserved.

de·duc·tion

(dē-dŭk'shŭn),
The logical derivation of a conclusion from certain premises. The conclusion will be true if the premises are true and the deductive argument is valid. Compare: induction (9).
Farlex Partner Medical Dictionary © Farlex 2012

de·duc·tion

(dĕ-dŭk'shŭn)
The logical derivation of a conclusion based on certain premises. The conclusion will be true if the premises are true and the deductive argument is valid.
Compare: induction (9)
Medical Dictionary for the Health Professions and Nursing © Farlex 2012
References in periodicals archive ?
The standard deduction will increase for single or married filing separate taxpayers from $3,070 to $3,165.
Consequently, the Institute commends the IRS for concluding in the proposed regulations that in appropriate cases charitable contribution deductions can be definitely related to a class of gross income.
Prepaying deductions is the general rule, but there are exceptions.
Outside of the two-year window, the taxpayer must take a taxable distribution from the IRA and report the income; a donation is reported as an itemized deduction subject first to the charitable deduction limits, then to the itemized deduction phaseout.
Individuals can take an itemized deduction for casualty losses to property not connected to a trade or business.
The bottom line is that the 2018 standard deduction has a greater chance of exceeding your 2018 itemized deductions.
Know the rules for taxation of state income tax refunds: Historically, the tax benefit rule has caused a refund of state income taxes deducted in a prior year to be taxable to the extent that itemized deductions that year exceeded the standard deduction.
The punitive component is included in gross income and any allocated legal fees and court costs are deductible as miscellaneous itemized deductions under IRC section 212 as expenses incurred in the production of income.
"As recently reported by the IRS, the amount claimed as deductions in tax year 2003 for clothing and household items was more than $9 billion.
In addition to subtracting CGS from DPGR, in determining its QPAI, a taxpayer must also subtract deductions that are directly allocable to DPGR, and a ratable portion of deductions that are not directly allocable to DPGR or to another class of income.
If your deductions add up to a disproportionate share of your income, you, like the Gordons, could be hit with the AMT.
The 2003 CRF study: Customer Deductions, Impact on Receivables confirms that short payments continue to be a significant challenge for many companies.