Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- adjective Not deductible, especially for income-tax purposes.
from the GNU version of the Collaborative International Dictionary of English.
- adjective not allowable as a tax deduction. Opposite of
deductible .
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- adjective that cannot be
deducted forincome tax purposes ; and thattax has to bepaid on
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- adjective not allowable as a deduction
Etymologies
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Examples
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She puts away $5,000, and he puts away $5,000 his IRA is based on her earning and called a nondeductible spousal IRA; otherwise you have to have earned income to contribute to an IRA.
Forbes.com: News Ashlea Ebeling 2012
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They don't get a deduction because of the wife's high income, so it's called a nondeductible IRA.
Forbes.com: News Ashlea Ebeling 2012
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These investors can open a " nondeductible " IRA, put in up to $5,000 — $6,000 if they ' re at least 50 — and immediately convert to a Roth IRA with little or no tax.
Smart Year-End Tax Moves for Investors Laura Saunders 2010
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Remind the attorney to prepare a bill that breaks down deductible and nondeductible charges.
Julian Block: Legal Fees for a Divorce: What Is Or Is Not Deductible Julian Block 2011
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These expenses are nondeductible even though they're partly incurred in arriving at a financial settlement or to combat a claim to income-producing property.
Julian Block: Legal Fees for a Divorce: What Is Or Is Not Deductible Julian Block 2011
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Ms. Van Dusen tried to take the deductions on her 2004 tax return, but the IRS considered them nondeductible personal expenses and "wouldn't budge," said Ms. Van Dusen.
Stray Cat Strut: Woman Beats IRS Laura Saunders 2011
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In that case, part of each distribution is tax-free until you recover all your nondeductible contributions.
Paying Taxes on IRAs Karen Damato 2011
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These expenses are nondeductible even though they're partly incurred in arriving at a financial settlement or to combat a claim to income-producing property.
Julian Block: Legal Fees for a Divorce: What Is Or Is Not Deductible Julian Block 2011
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In TurboTax, when you enter information about IRA distributions reported to you on Form 1099-R, the software asks if you ever made nondeductible contributions.
Paying Taxes on IRAs Karen Damato 2011
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But to the extent that you made some nondeductible contributions of money that had already been taxed, those dollars don't get taxed a second time when you pull them out.
Paying Taxes on IRAs Karen Damato 2011
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