A tax deduction is an item you can subtract from your taxable income to lower the amount of taxes you owe. Browse Investopedia's expert-written library to learn more. 

Explore Tax Deductions

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Section 1244 Stock Definition, Qualification Rules
Is PMI or MIP Tax Deductible?
Form 2106-EZ: Unreimbursed Employee Business Expenses
Form 3903: Moving Expenses
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16 Tax Deductions and Benefits for the Self-Employed
Additional Personal Allowance
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What Are Itemized Tax Deductions? Definition and Impact on Taxes
Close-up of a United States tax return form with a pencil and calculator.
7 Insurance-Based Tax Deductions You May Be Missing
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How to Deduct Stock Losses From Your Tax Bill
A young couple reviewing taxes together.
Tax Deduction Definition: Standard or Itemized?
Long-Term Capital Gains and Losses: Definition and Tax Treatment
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The Most Overlooked Tax Deductions
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Tax-Loss Harvesting: Definition and Example
Capital Loss Carryover: The net amount of capital losses eligible to be carried forward into future tax years.
Capital Loss Carryover: Definition, Rules, and Example
Cropped shot of a person working on their taxes, with calculator and laptop on the desk
Tax Shield: Definition, Formula for Calculation, and Example
tax accountant meeting with client in office
Form 4952: Investment Interest Expense Deduction Overview
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Tax-Deductible Interest: Definition and Types That Qualify
Combing Through the Fine Print
Property Tax Deduction: Definition, How It Works and How to Claim
Understanding Business Expenses and Which Are Tax Deductible
Close up of hands working on taxes holding a pen and using a calculator
Deduction Definition and Standard Deductions for 2022
Annual Investment Allowance (AIA) Definition, Eligibility
Personal Income Taxes
IRS Publication 529 (Miscellaneous Deductions)
Qualified Production Activities Income (QPAI)
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Ordinary and Necessary Expense: What it is, How it Works
Ordinary Loss Tax Deduction: Meaning and FAQs
For a Secure Future You've Got to Plan for It
IRS Publication 463: Travel, Gift, and Car Expenses Definition
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Deductible Definition, Common Tax, and Business Deductibles
Recapture: What it is, How it Works, Uses
6 Ways to Make Summer Camp Tax Deductible
Home Office: What it is, How it Works, FAQ
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Travel Expenses Definition and Tax Deductible Categories
Fractional Gift
Internal Revenue Service building
Are IRS Penalties Tax Deductible?
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Charitable Donation: Definition, Examples, Tax Deduction Rules
Percentage Depletion: Meaning, Overview, Benefits
Foreign Tax Deduction
Itemized Deductions: What It Means and How to Claim
Standard Mileage Rate Tax Deduction Overview
Mortgage Interest Deduction: Overview, Examples, FAQ
IRS Publication 536
The Smith Maneuver: Definition, How It Works, and How to Use It
Business travel
Lodging Expenses
Transportation and Storage Costs
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Primary Business Purpose Defined
Casualty and Theft Losses: Overview and Examples
Away From Home
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Educator Expense Deduction
Track Your Mileage for Taxes in 8 Easy Steps
Writing note showing Tax. Business photo showcasing Compulsory payment of taxes by people to government increase revenue Cyan paper imagination idea crumpled papers mistakes several tries.
Assessable Profit
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Getting U.S. Tax Deductions on Foreign Real Estate
Deducting Stock Losses: A Guide
Cut Taxes by Reporting Property Damage
Capital Losses and Tax
Couple seated at a table at home, using a calculator and an adding machine to work on their taxes
How to Qualify for the Home Office Tax Deduction
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Rental Property Tax Deductions
Increase Your Tax Refund With Above-the-Line Deductions

Deductions & Credits