Tax Credits & Deductions
Reduce your tax bill by claiming credits and deductions you're eligible for.
Tax Credits
Tax credits reduce the amount of tax you owe dollar-for-dollar. Some credits are even refundable, meaning you might get money back even if you don't owe any tax.
Earned Income Tax Credit (EITC)
For workers with low to moderate income. The amount of EITC benefit depends on your income and family size.
Child Tax Credit
For families with qualifying children under age 17. Up to $2,000 per qualifying child.
American Opportunity Credit
For qualified education expenses for the first four years of higher education.
Saver's Credit
For contributions to a retirement plan for low- to moderate-income workers.
Tax Deductions
Deductions reduce the amount of your income that's subject to tax. You can choose between the standard deduction or itemizing deductions.
Standard Deduction
The standard deduction amount depends on your filing status, age, and whether you're blind or claimed as a dependent.
- Simpler - no need to track expenses
Itemized Deductions
You may itemize if your total deductions are greater than the standard deduction.
- Medical and dental expenses
- State and local taxes
- Mortgage interest
- Charitable contributions
Resources & Tools
Forms & Publications
Find all the forms and instructions you need to claim credits and deductions.
Browse forms →Interactive Tax Assistant
Answer simple questions to find out which credits and deductions you qualify for.
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