Meaning

noun (taxes) an amount that can be deducted (especially for the purposes of calculating income tax)

noun a clause in an insurance policy that relieves the insurer of responsibility to pay the initial loss up to a stated amount

adjective acceptable as a deduction (especially as a tax deduction)

originEtymology tree English deduct Proto-Indo-European *-tḗr Proto-Indo-European *-dʰlom Proto-Indo-European *-dʰlis Proto-Italic *-ðlis Latin -bilis Latin -ibilis Old French -ibleder. Middle English -ible English -ible English deductible From deduct + -ible.

Etymology from Wiktionary, CC BY-SA 3.0