Which is an example of an income deduction?

An unexpected salary cut

Wages lost due to illness

Vacation budget

Retirement savings

Income deduction is defined as an expense that is deducted from an individuals income to lower his tax liability.

Explanation:

An example of an income deduction is (D) Retirement Savings

Income deduction is also known as tax deduction

Example of income deduction include things such as: Investment interest expenses, Medical Expenses, Home mortgage interest, income tax etc

D

Explanation:

An example of an income deduction is (D) Retirement Savings Income deduction is also known as tax deduction Example of income deduction include things such as: Investment interest expenses, Medical Expenses, Home mortgage interest, income tax etc