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
Mortgage
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
Adult couple working on finances
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
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
Hand of a Stockbroker Buying and Selling Shares Online
Tax-Loss Harvesting: How It Works, Example, and Pitfalls to Avoid
Capital Loss Carryover: Definition, Rules, and Example
Tax Shield: Definition, Formula for Calculation, and Example
tax accountant meeting with client in office
IRS Form 4952: Investment Interest Expense Deduction Definition
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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 (O & NE)
Ordinary Loss
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
6 Ways to Make Summer Camp Tax Deductible
Home Office
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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
Foreign Tax Deduction
Itemized Deductions: What It Means and How to Claim
Standard Mileage Rate
Mortgage Interest Deduction
IRS Publication 536
The Smith Maneuver: Definition, How It Works, and How To Use It
Business travel
Lodging Expenses
Transportation and Storage Costs
A woman on a laptop surrounded by papers
Primary Business Purpose Defined
Casualty and Theft Losses
Away From Home
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Educator Expense Deduction
How to Log 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
Stone cottage with flowers
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