| Child Tax Credit | - U.S. citizen, U.S. National, or Resident Alien
- Child must be your dependent under the age of 17
- Child did not provide over half of your support
- Child lived with you more than 6 months
- Child has a valid SSN prior to the date of the return
| - Non-refundable credit up to $2,000 per child for those with federal tax liability
Additional Child Tax Credit (ACTC) - A refundable credit, limited to $1,500 per child
- Must have $2,500+ of taxable earned income if you have more than one child
- May qualify for ACTC regardless of income with three or more children
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| Credit for Other Dependent | - Child without a SSN who does not qualify for the child tax credit
- Child who is 17+ or a qualifying adult dependent
- U.S. citizen, U.S. National, or Resident Alien
- Qualifying relatives with SSN, ITIN, or ATIN prior to return date
| - Non-refundable credit of $500 for other dependents
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| Earned Income Credit | - Worked & earned income under $59,187
- Investment income below $10,300 in tax year 2022
- Valid SSN by the due date of your return (includes extensions)
- U.S. citizen or a resident alien all year
- Did not file Form 2555 (related to foreign earned income)
| - Refundable credit and must have earned income to qualify
Maximum Credit Amounts - No qualifying children: $560
- One qualifying child: $3,733, two children: $6,164, three+ children: $6,935
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| Child & Dependent Care Credit | - A dependent child under age 13 when expenses were incurred
- Any person incapable of “self-care” claimed as a dependent, or who would have been, except for a gross income of $4,400+
- A spouse not physically or mentally capable of “self-care”
- Must have statement with name of provider, address, federal ID number, or valid SSN & phone number
| - Non-refundable credit: one child max amount excluded up to $3,000, two or more dependents, max amount excluded is $6,000
- Expenses allow taxpayer to look for work, work, or attend college
- Expenses include services for the dependent’s well-being & protection
- Tuition is not an expense of care. Day-camps qualify, but overnight camps do not
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| Education Credit | - Attend an approved post-secondary education institution
- Working toward a degree or certification
- Qualifying tuition and fees
- Form 1098-T
| American Opportunity Credit: Up to $2,500 credit with maximum $1,500 non-refundable payment/maximum $1,000 payment
Life-Time Learning Credit: Up to $2,000 credit per return with non-refundable credit limited to the total of tax paid on taxable income |
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| Retirement Savings Contribution Credit | - Contribution or deferral to an IRA or other qualified plan in 2022
- AGI ≤ $34k Single, ≤ $51k Head of Household, ≤ $68k Filing Jointly
- Born prior to January 2, 2005
- Not a dependent on someone else’s return or full-time student
| - Non-refundable credit
- Calculated based on income and retirement contributions
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| Residential Engery Credits | Part I – Residential Clean Energy Act - Qualified residential alternative energy equipment
Part II – Energy Efficient Home Improvement Credit - Qualified energy efficiency home improvements
- Energy efficient heating and cooling systems
- Made to main home & meets version 6.0 Energy Star program
| Part I: Out of Scope – see a paid professional tax preparer
Part II: In Scope - A combined credit of $500 ($200 for windows) per year for all tax years
- after 2005
- 50 for any advanced main air circulating fan
- $150 for any natural gas, propane, or oil furnace, or hot water boiler
- $300 for any item of energy-efficient building property
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| Credits for New Clean Vehicles | - Bought a plug-in electric vehicle or fuel cell vehicle in 2023 or after
- Bought for your own use primarily in the U.S., not for resale
| - May qualify for up to $7,500 for a new electric vehicle purchased in 2022 or earlier
- This is a non-fundable credit; you cannot get back more than what you owe in taxes
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| Nebraska Property Tax Credit | - Must own real estate in NE, e.g., your home, farmland
- Must have paid real estate taxes in the year of your tax return
- Must file a NE tax return, a NE Property Tax Credit, and Form PTC
| Refundable credit - Receive 30% of school district property tax paid
- Receive 30% of community college property tax paid
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