Entry from US English dictionary
Not allowable as a deduction from income for the calculation of taxes.
- Prior to 1998, individuals who wanted to fund an IRA could make either a deductible or nondeductible contribution to a Traditional IRA.
- He will find methods of converting nondeductible expenses into deductible ones.
- However, to the extent you made nondeductible contributions to a retirement account, those amounts will not be protected.
For editors and proofreaders
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.