Stack Exchange Network

Stack Exchange network consists of 175 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

Visit Stack Exchange

Questions tagged [tax-credit]

for questions that relate to tax credits. A tax credit is a sum deducted from the total amount a taxpayer owes to the state.

4
votes
1answer
2k views

Canadian income tax & charitable donations: How much is income tax reduced by donations?

In Canada, how much is income tax reduced by charitable donations? When filing, are there any special requirements to qualify for the deduction or credit?
2
votes
1answer
1k views

First time home-buyer incentives require 3 years of primary residence, but can I move if I'm laid off?

My wife and I are 25-months into an FHA loan (we received a first time home buyer tax credit), and I seem to recall that we cannot sell or rent the property for at least 36-months. That wasn't a ...
2
votes
1answer
419 views

Can I claim the child care tax credit in addition to using a dependent care FSA?

Dependent care FSA is capped at $5000 annually and I use this entirely. The annual child care credit is $3000. If my expenses are over $8000, can I utilize both of these in the same calendar year?
1
vote
4answers
2k views

American opportunity credit with foreign country education

I am reporting 2014 tax by TaxAct software. One field is for education. My situation is I took a course for a certification in 2014. It was my first education course in US. I earned my Phd in a ...
1
vote
1answer
887 views

Taxable Scholarship Qualifications

I am trying to determine whether or not a particular scholarship I received (the Palmetto Fellows Scholarship in South Carolina) may or must (or may not or must not) be considered taxable income. ...