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Credits & Deductions for Individuals

You subtract tax credits from the amount of tax you owe. There are two types of tax credits:

  • A nonrefundable tax credit means you get a refund only up to the amount you owe for taxes.
  • A refundable tax credit means you get a refund, even if it is more than what you owe.

Credits for Individuals

Family & Dependents

Health Care


Electric Vehicle Credit


Income and Savings


You subtract tax deductions from your income before you calculate the amount of tax you owe. The value of a deduction often depends on your tax bracket, which rises with income.

Deductions for Individuals




Health Care

Itemized Deductions

Miscellaneous Deductions

Page Last Reviewed or Updated: 28-Jan-2015