This chapter discusses the following credits.
- Rate reduction credit.
- Adoption credit.
- Foreign tax credit.
- Mortgage interest credit.
- Credit for prior year minimum tax.
- Credit for electric vehicles.
- Credit for excess social security tax or railroad retirement tax withheld.
- Credit for tax on undistributed capital gain.
Several other credits are discussed in other chapters in this publication.
Nonrefundable credits.
The first part of this chapter, Nonrefundable Credits, covers six 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.
Refundable credits.
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.
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