Body Your 2021 Tax Return: Reconcile Child Tax Credit Payments If you got advance payments of the Child Tax Credit, find how to reconcile the payments on your 2021 federal tax return. You can claim credits and deductions when you file your tax return. Don’t Lose Your Refund by Not Filing, even if it’s after the filing deadline. How Credits and Deductions Work When you claim federal tax credits and deductions on your tax return, you can change the amount of tax you owe. Deductions can reduce the amount of your income before you calculate the tax you owe. Credits can reduce the amount of tax you owe or increase your tax refund, and some credits may give you a refund even if you don't owe any tax. Credits for Individuals Family and Dependent Credits Child Tax Credit Advance payments of the Child Tax Credit Reconcile advance payments of the Child Tax Credit on your 2021 tax return Does my child/dependent qualify for the Child Tax Credit or the Credit for Other Dependents? Child Tax Credit and Credit for Other Dependents Publication 8812, Credits for Qualifying Children and Other Dependents Dependent Care Credit Child and Dependent Care Credit Tax Credit with Dependents Earned Income Tax Credit Other Child Credit Adoption Credit 2021 Recovery Rebate Credit To find out if your dependents qualify, see Questions 7-9 in Recovery Rebate Credit Eligibility FAQs Recovery Rebate Credit Income and Savings Credits Saver's Credit (Retirement Savings Contributions Credit) Foreign Tax Credit Excess Social Security and RRTA tax withheld Credit for Tax on Undistributed Capital Gain Credit for Prior Year Minimum Tax Homeowner Credits Residential Energy Efficient Property Credit Plug-in Electric Drive Vehicle Credit Health Care Credits Premium Tax Credit Health Coverage Tax Credit Education Credits American Opportunity Credit and Lifetime Learning Credit Deductions for Individuals Work Related Deductions Business expenses Business use of car Business use of home Form 2106, Employee Business Expenses Are my work-related education expenses deductible? Itemized Deductions Standard deduction and itemized deductions Deductible taxes State and local tax deduction limit Property tax Real estate tax Sales tax Charitable contributions Gambling loss Miscellaneous expenses Interest expense Home mortgage interest Moving expenses Education Deductions Student loan interest Work-related educational expenses Teacher educational expenses Health Care Deductions Medical and dental expenses Health Savings Account (HSA) Investment Related Deductions Sale of home Individual retirement arrangements (IRAs) Capital losses Bad debt Opportunity zones Debt forgiven on my residence due to foreclosure, repossession, abandonment or because of a loan modification or short sale Business Credits and Deductions Find credits and deductions for businesses.
