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Credits & Deductions for Individuals

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

Income and Savings

Education

Homeowners

Electric Vehicle Credit

 


Subtract tax deductions from your income before you calculate the amount of tax you owe. 

Deductions for Individuals

Work-Related

Investments

Education

Health Care

Itemized Deductions

Miscellaneous Deductions

Page Last Reviewed or Updated: 30-Mar-2015

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