[ US /nɑndɪˈdəktɪbəɫ/ ]
  1. not allowable as a deduction
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How To Use nondeductible In A Sentence

  • Individuals not eligible to make deductible contributions may make nondeductible contributions, the earnings on which would be tax deferred.Sentencedict
  • In that case, part of each distribution is tax-free until you recover all your nondeductible contributions. Paying Taxes on IRAs
  • He should then transfer his nondeductible credit card and car loan debt to the line of credit that is tax deductible.
  • 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. News
  • 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
  • Instead of contributing the nondeductible amount to a Traditional IRA, where earnings grow tax-deferred, you can contribute the amount to a Roth IRA where earnings grow tax-free.
  • 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
  • Ministers generally are not allowed to deduct the daily cost of commuting to and from work, as such expenses are considered to be personal and nondeductible.
  • These increased limits apply for both deductible and nondeductible contributions to traditional IRAs.
  • This percentage should then be applied to any business expenses incurred to determine the nondeductible portion. Christianity Today
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