The phrase "amount of deduction" is correct and usable in written English.
It can be used when discussing the specific quantity or value that is being deducted, often in financial or tax contexts.
Example: "The amount of deduction for this tax year is significantly higher than last year, allowing for greater savings."
Alternatives: "total deduction" or "deduction value".
The amount of deduction was fixed at $1,000 for each dependent attending a tuition-charging nonpublic school.
Under the New York law, the amount of deduction was not dependent upon the amount actually paid for tuition, but was a predetermined amount which depended on the tax bracket of each taxpayer.
In that sense, what it would do is it would equalise - when I give $100, I'd get the same amount of deduction as when some - a bus driver, who's making $50,000 a year, or $40,000 a year gives that same $100.
Mitt Romney himself proposed an efficient and effective approach: just limit the total amount of deductions.
Another policy change that has some support from both parties is a plan to limit the total amount of deductions.
Currently, there is no cap on the total amount of deductions a taxpayer can claim for items like mortgage interest, charitable deductions and state and local taxes.
Also, Martin Feldstein of Harvard University and Maya MacGuineas of the Committee for a Responsible Federal Budget have suggested caps on the amount of deductions relative to a taxpayer's income.
He suggested on Monday that one way to increase revenue would be to cap the total amount of deductions any taxpayer could claim.
The total amount of deductions claimed could be limited by a dollar amount, they could be limited to a certain percentage of income, there could be floors that allow deductions only over a certain amount and various other schemes.
That number ripples through returns, often resulting in higher taxes by limiting the amount of deductions that may be taken, or causing a greater amount of Social Security to be taxable because adjusted gross income is now higher.
One of the budget proposals that hasn't received much attention would place limits on the total amount of deductions than can be taken by individuals earning more than two hundred thousand dollars a year and couples earning more than two hundred and fifty thousand dollars.
