Tax Credits & Deductions for Individuals


Credits for Individuals

Family & Dependents
• Earned Income Tax Credit
• Child and Dependent Care Credit
• Adoption Credit
• Child Tax Credit
• Credit for the Elderly or Disabled

Health Care
• Premium Tax Credit (Affordable Care Act)
• Health Coverage Tax Credit

Income and Savings
• Earned Income Tax Credit
• Saver’s Credit
• Foreign Tax Credit
• Excess Social Security and RRTA Tax Withheld
• Credit for Tax on Undistributed Capital Gain
• Nonrefundable Credit for Prior Year Minimum Tax
• Credit to Holders of Tax Credit Bonds

• Lifetime Learning Credit
• American Opportunity Tax Credit

• Mortgage Interest Credit
• Residential Energy Efficient Property Credit
• Non-business Energy Property Credit
• Low-Income Housing Credit (for Owners)

Electric Vehicle Credit
• Plug-in Electric Drive Motor Vehicle Credit
• Plug-in Conversion Credit
• Alternative Fuel Vehicle Refueling Property Credit
• New Qualified Fuel Cell Motor Credit

Deductions for Individuals

• Deductible Business Expenses
• Standard Mileage Rates
• Home Office
• Business Use of Car
• Business Travel Expenses
• Bad Debt
• Business Entertainment Expense
• Depreciation and Amortization

• Sale of Home
• Individual Retirement Arrangements (IRAs)
• Capital Losses

• Student Loan Interest
• Tuition and Fees Deduction
• Work-Related Educational Expenses
• Teacher’s Educational Expenses

Health Care
• Medical and Dental Expenses
• Health Savings Account (HSA)

Itemized Deductions
• Standard Deduction
• Deductible Taxes
• Property Tax
• Real Estate Tax
• Sales Tax
• Charitable Contributions
• Gambling Loss
• Miscellaneous Expenses
• Interest Expense
• Home Mortgage Interest
• Union/Club Expenses
• Moving Expenses

Miscellaneous Deductions
• Alimony Paid
• Casualty, Disaster and Theft Losses

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