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English definition of “deductible”

deductible

noun [C]  /dɪˈdʌk·tə·bəl/ us  
an amount of money that you are responsible for paying before your insurance (= protection against loss) will pay you for an expense: Judy’s car insurance policy had a $500 deductible.

deductible

adjective [not gradable]  /dɪˈdʌk·tə·bəl/ us  
A deductible expense is a cost that you can subtract from the earnings on which you have to pay income tax: Mortgage interest is deductible.
(Definition of deductible from the Cambridge Academic Content Dictionary © Cambridge University Press)
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