Confiscable \kuhn-FIS-kuh-buhl\ , adjective;
1. Liable to be taken by an authorized party
This word doesn't exist on Etymonline.com and the OED entry is equally bland. What is interesting though, is that the etymologies of confiscate and confiscation are surprisingly different:
Confiscate goes back to the 1550's and originally meant "to appropriate from the treasury." It comes from the Latin word confiscatus, which is the past participle of confiscare. Com- + fiscus ("together" + "public treasury") combine to make confiscare, which literally translates to "money basket".
Confiscation goes back to the 1540's and is derived from the Middle French word confiscation. Confiscation comes from Latin confiscationem, for which the nominative is confiscatio, and is a noun of action from confiscare.
*Today's word and the first definition were both taken from Dictionary.com's 'Word of the Day' for Wednesday, September 29