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deduction (n.)

early 15c., deduccioun, "a bringing, a leading;" mid-15c., "action of deducting; a taking away, a number or amount subtracted," from Old French deduction (Modern French déduction) and directly from Latin deductionem (nominative deductio) "a leading away, an escorting; a diminution," noun of action from past-participle stem of deducere "lead or bring away or down; derive" (in Medieval Latin, "infer logically"), from de "down" (see de-) + ducere "to lead," from PIE root *deuk- "to lead."

Meaning "that which is deducted" is from 1540s. As a term in logic, "derivation as a result from a known principle, an inference, conclusion," 1520s, from Late Latin use of deductio as a loan-translation of Greek apagoge. Related: Deductional.

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Definitions of deduction from WordNet

deduction (n.)
a reduction in the gross amount on which a tax is calculated; reduces taxes by the percentage fixed for the taxpayer's income bracket;
Synonyms: tax write-off / tax deduction
deduction (n.)
an amount or percentage deducted;
Synonyms: discount
deduction (n.)
something that is inferred (deduced or entailed or implied);
Synonyms: entailment / implication
deduction (n.)
reasoning from the general to the particular (or from cause to effect);
Synonyms: deductive reasoning / synthesis
deduction (n.)
the act of subtracting (removing a part from the whole);
Synonyms: subtraction
deduction (n.)
the act of reducing the selling price of merchandise;
Synonyms: discount / price reduction
From wordnet.princeton.edu