nondeductible
Definition
- Adjective:
- Not allowable as a deduction: Describes an expense or cost that cannot be subtracted from gross income when calculating taxable income. It is the opposite of "deductible."
Usage Examples
- Adjective:
- The fines were nondeductible, so they did not reduce the company's tax liability.
- Personal living expenses are generally nondeductible for tax purposes.
- The accountant explained that the client's entertainment costs were nondeductible under the new rules.
Advanced Usage
- "nondeductible contribution": In retirement account terminology, this refers to money contributed to an account (like a traditional IRA) for which you do not claim an income tax deduction in the year of the contribution.
- He made a nondeductible IRA contribution because his income was too high for a deductible one.
Variants and Related Words
- Deductible (adj): Able to be deducted, especially from taxable income.
- Mortgage interest is often a deductible expense for homeowners.
- Nondeductibility (n): The state or quality of being nondeductible.
- The nondeductibility of the penalty increased the final tax bill.
Synonyms
- Nonallowable: Not permitted or allowed.
- Ineligible for deduction: Not qualifying to be subtracted.
Antonyms
- Deductible: Allowable as a deduction.
- Allowable: Permitted to be deducted or claimed.
Adjective
-
not allowable as a deduction
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