deductible

Universal Words adjective that can be taken away from an amount of money you earn, from tax, etc: These costs are deductible from profits. * tax-deductible expenses (= that you do not have to pay tax on) deductible noun [C] (AmE): The donation he made was a deductible on his tax form. * After a $75 deductible, Medicare pays 80 per cent of doctors' bills.