/ Dictionary / Index T tax deduction: Meaning and Definition of Find definitions for: tax' deduc"tion Pronunciation: [key] an expenditure that is deducted from taxable income. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. tax-deductible tax deed Related Content Daily Word Quiz: abominable Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language