J.K. Lasser's Your Income Tax Professional Edition 2017

Chapter 25 Personal Tax Credits Reduce Your Tax Liability

1. 25.1 Overview of Personal Tax Credits
2. 25.2 Child Tax Credit for Children Under Age 17
3. 25.3 Figuring the Child Tax Credit
4. 25.4 Qualifying for the Child and Dependent Care Credit
5. 25.5 Figuring the Dependent Care Credit
6. 25.6 Qualifying Tests for EIC
7. 25.7 Income Tests for Earned Income Credit (EIC)
8. 25.8 Qualifying for the Adoption Credit
9. 25.9 Claiming the Adoption Credit on Form 8839
10. 25.10 Eligibility for the Saver’s Credit
11. 25.11 Figuring the Saver’s Credit
12. 25.12 Premium Tax Credit
13. 25.13 Health Coverage Credit
14. 25.14 Mortgage Interest Credit
15. 25.15 Residential Energy Credits
16. 25.16 Credits for Plug-in Electric Vehicles and Fuel Cell Vehicles
17. 25.17 Repayment of the First-Time Homebuyer Credit

In this chapter you will find discussions of the child tax credit, dependent care credit, earned income credit (EIC), adoption credit, retirement savings credit, mortgage interest credit, credit for plug-in electric vehicles, the premium tax credit, the residential energy credits and the health coverage credit for displaced workers. Education tax credits are discussed inChapter 33.

The child tax credit is $1,000 for each qualifying dependent child under age 17. To claim the credit, you must follow the steps on the “Child Tax Credit Worksheet.” There is a phaseout of the credit (25.3). If the credit exceeds your tax liability, you may be entitled to a refundable credit called the “additional tax child credit”.

Depending on your income, ...