Miscellaneous Tax Credits


DEFINITION of 'Miscellaneous Tax Credits'

A group of less common tax credits that apply to taxpayers in various situations. As with all other tax credits, miscellaneous tax credits are designed to reward and promote certain types of economic activities, such as the purchase of hybrid automobiles or to reward those who have taken appropriate measures to make their homes more energy-efficient.


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BREAKING DOWN 'Miscellaneous Tax Credits'

There are several miscellaneous tax credits available, such as the mortgage interest credit, the prior-year alternative minimum tax credit, the foreign tax credit, and the hybrid and electric vehicle credit.

Most miscellaneous credits are non-refundable, except for the credit for excess Social Security or railroad retirement withholdings.

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  3. Tax Credit

    An amount of money that a taxpayer is able to subtract from the ...
  4. Non-Refundable Tax Credit

    A tax credit that can't reduce the amount of tax owed to less ...
  5. Alternative Minimum Tax - AMT

    A tax calculation that adds certain tax preference items back ...
  6. Saver's Tax Credit

    A non-refundable tax credit available to lower income individuals ...
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