Sentence examples for deduction is allowed from inspiring English sources

Note: The deduction is allowed even if the purchase price is financed in whole or in part.

Therefore, the entire amount of such exclusion or deduction is allowed to the extent provided in § 1.911-4.

This is because the estate tax for the surviving spouse comes into play only if a marital deduction is allowed when the first spouse dies.

No credit shall be allowed under section 38 with respect to any amount for which a deduction is allowed under subsection (a).

A deduction is allowed only for losses incurred in a trade or business or on a transaction entered into for profit.

In any event, no tax deduction is allowed for items in less than good condition, a determination that must be made in writing by the recipient of the goods in question.

Mortgage-interest deduction was allowed in 1913, at a time when few Americans had mortgages.

City officials said the deduction was allowed until 2005, when the Internal Revenue Service reclassified the trust as a "voluntary employee beneficiary association," meaning that the organization must be an association of employees, and membership must be voluntary.

Partial deductions are allowed for people with a bit more income, but they phase out with $10,000 more in income.

Deductions are allowed for federal, state and local income taxes; union dues; court-ordered support payments; and Social Security taxes.

In fact, President John F. Kennedy once proposed that charitable deductions, as well as all other itemized deductions, be allowed only for amounts over 5 percent of a taxpayer's income.