Income Tax Credits

Credits reduce your federal income tax after your tax has already been calculated, which makes them a powerful tool for bringing down your tax bill. Learn the difference between refundable and non-refundable taxes, and learn how to use them to your benefit when you file your taxes.
are you eligible for the federal student loan tax deduction?
Did You Pay Interest on Student Loans? It Might Be Tax Deductible
Image shows the top of a desk with money a laptop, tax forms, and a folder with documents in it. Text reads: "Rules for claiming the charitable contribution deduction: you must donate cash or property; you must contribute to a qualified tax-exempt organization; you must keep records of the transactions (charity acknowledgement letters, appraisals of the donated property, etc.)"
How to Make Sure Your Charity Donation Is Tax Deductible
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The Tax Preparation Fees Deduction: Who Can Still Claim it?
A couple goes over their itemized deductions.
What Is an Itemized Deduction?
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Rules for Repaying the 2008 First-Time Homebuyer Tax Credit
Image shows property tax deduction rules. You have to itemize it. You must be the property owner to claim the deduction. The total of all your itemized deductions should exceed the amount of your standard deduction to make claiming the property tax deduction worth it. The TCJA also limits the amount of property taxes you can claim.
Can You—And Should You—Claim a Deduction for Your Property Taxes?
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Most Commonly Claimed Tax Adjustments to Income
USA, New Jersey, Woman paying teenage nanny (14-15) for taking care of her son (12-17 months)
No More Personal Exemptions? You Can Still Claim These Tax Credits
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If You Pay Interest on Your Mortgage, It May Be Tax Deductible
Teacher in front of class
You Might Qualify for a Special Tax Deduction If You are an Educator
This illustration answers the question, Do I qualify for the child-/dependent-care tax credit? and includes "You must claim child as a dependent on a tax return," "Child or adult in your care must live with you at least half the year," "Child must be either younger than age 13, or unable to care for themselves because of a disability," "You must pay more than half the costs of maintaining your home," "Professional care for your child or adult dependent must be intended to allow you to work, look for work, or attend school full time," and "If married, your spouse must also be working, looking for work, or in school - or else disabled and thus not able to provide care."
Get a Federal Tax Credit for What You Spend on Child and Dependent Care
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Rules for Deducting Health Insurance Premiums on Taxes
A couple works on paperwork for their dependent tax credit.
The Tax Credit for Other Dependents for Tax Year 2020
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What Is the Foreign Tax Credit?
Mature couple doing paperwork using laptop
Do You Know the Tax Breaks for Older Adults and Retirees?
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The Tuition and Fees Tax Deduction Is Still Available for Tax Year 2020
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Home Improvements and Residential Energy Tax Credits
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Can You Get a Tax Deduction for Making an IRA Contribution?
Senior couple going over their retirement account at home
You Can Dodge RMD Penalties With Qualified Charitable Distributions
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The Personal Property Tax Deduction and What Can Be Claimed
Two women reviewing tax paperwork
Tax Planning Tips: 3 Ways You Can Reduce Your Taxes
A woman sits at her desk in a bright workroom and prepares her taxes.
The Effect of Tax Legislation on Itemized Deductions
Woman sits at a dining table using a calculator to determine her traditional IRA contribution percentage
How Much Can You Deduct for Contributing to a Traditional IRA?
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What Is IRS Form 2106?
Man driving for business
How and When You Can Deduct Business Mileage for Travel or Commuting
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Tax Breaks for Single Parents
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How Can You Claim a Sales Tax Deduction on Your Federal Taxes?
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Refundable vs. Nonrefundable Tax Credits—Which Kind Is Better?
Family moving into new home
Military Members Can Still Deduct Moving Expenses
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What's the Investment Interest Expense Deduction?
Rural house in Vermont.
Learn About the Mortgage Insurance Premium (MIP) Tax Deduction.
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You Might Qualify for a Tax Credit If You've Adopted a Child
Man working in home office, holding his infant and looking at paperwork
What Are Tax Credits?
Manager with clipboard talking on cell phone factory
This 3% Business Tax Deduction Went Away in 2018, But It Could Be Back
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Should You Take the 1040 Standard Deduction or Itemize?
Two women and a man look at a tablet and laptop while standing near a donations box
Can You Claim a Tax Deduction for Donations Made to Crowdfunding Sites?
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What Are Above-the-Line Deductions?
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Tax Deductions and Tax Breaks for Private Schools
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What Is a Unified Tax Credit?
Personal income taxes
Doing Your Taxes? Itemizing Might Just Get You a Bigger Refund
A young college student clutches textbooks, pens, and binders of papers
What Is IRS Form 1098-E?
A young entrepreneur takes a break from doing her taxes.
Can You Deduct Credit Card Interest on Your Income Taxes?
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Which Expenses Are Deductible When You Sell a House?
Woman sitting behind the wheel of a car, smiling at a salesman leans in the window
Is Your Vehicle Registration Tax Deductible? Yes and No
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Reconciling Advance Payments of the Premium Tax Credit
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Deducting the Early Withdrawal of Savings Penalty on your Tax Return
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Claiming Medical Expenses as a Tax Deduction
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You Might Qualify for a Tax Credit If You're Elderly or the Disabled
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Tax Credits for Hybrid, Electric, and Alternative Fuel Vehicles
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Find Out If the Cost of LASIK Surgery Can Be Deducted From Your Taxes
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A Guide to Understanding the Value of Tax Credits
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How College Costs and Financial Aid Affect Tax Returns
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Can You File as Head of Household or Claim the Earned Income Tax Credit?
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Lower Your Tax Bill With FSA Pre-Tax Deductions
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Can You Get a Tax Deduction for Sending Money to a Prisoner?
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Deductions Extended for Tax Year 2020
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How Will the New Tax Law Affect You as a Single Parent?
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Community Property Deductions Between Spouses
Tax Deduction on Student Loan Interest
The Good News About Student Loan Interest
Woman packing for college rests by her car
Can Moving-Back-to-School Expenses Be a Tax Deduction?