Definition of allocable in English:

allocable

adjective

  • See allocate

    • ‘However, when a trip is primarily for vacation, the entire cost of the trip is a non-deductible personal expense, except for any expenses you have while at your destination that are directly allocable to your business.’
    • ‘The portion allocable to the employee's personal use is generally taxable to the employee as a fringe benefit.’
    • ‘On the surface, using a cost-type contract may appear to be the wrong type because it essentially results in the payment of all allowable and allocable costs.’
    • ‘They are potentially liable to the artist for the artist's losses, for an allocable portion the profits they earned, attorneys fees and treble damages (in the trademark cases).’
    • ‘After allocating the basis and the amount realized between these portions, Bob determines that $12,000 of the gain is allocable to the residential portion and $6,000 is allocable to the rental portion.’

Pronunciation

allocable

/ˈaləkəb(ə)l/