In addition to the child and dependent care credit (chapter 33), the credit for the elderly or the disabled (chapter 34), the child tax credit (chapter 35), the education credits (chapter 36), and the earned income credit (chapter 37), you may be able to claim other tax credits. Even though the general business credit is one of the other tax credits that you may be able to claim, it is not discussed in this chapter. See Publication 334, Tax Guide for Small Business,
for a discussion of the credits that are included in the general business credit. This chapter discusses seven other credits which you subtract directly from your tax to reduce your tax liability. It is divided into two parts, Nonrefundable credits, and Refundable credits.
The first part of the chapter, Nonrefundable Credits, covers five credits that you subtract directly from your tax. These credits may reduce your tax to zero. If these credits are more than your tax, the excess is not refunded to you.
The second part of this chapter, Refundable Credits, covers two credits that are treated as payments and are refundable to you. These credits are added to the federal income tax withheld and any estimated tax payments you made. If this total is more than your total tax, the excess will be refunded to you.
- 514 - Foreign Tax Credit for Individuals
- 564 - Mutual Fund Distributions
- 936 - Home Mortgage Interest Deduction
- 968 - Tax Benefits of Adoption
Form (and Instructions)
- 1116 - Foreign Tax Credit (Individual, Estate, Trust, or Nonresident Alien Individual)
- 8396 - Mortgage Interest Credit
- 8801 - Credit For Prior Year Minimum Tax--Individuals, Estates, and Trusts
- 8828 - Recapture of Federal Mortgage Subsidy
- 8834 - Qualified Electric Vehicle Credit
- 8839 - Qualified Adoption Expenses
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