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A set amount that taxpayers could subtract from their income for themselves and their dependents. As of 2018, this exemption is no longer applicable.

A portion of income not subject to tax that can be used to reduce your tax bill, the amount varies based on filing status, age, and blindness.

A credit worth up to $2,000 per qualifying child under the age of 17, and a portion of it is refundable.$

A refundable credit for low to moderate-income working individuals and families, particularly those with children.

Includes the American Opportunity Tax Credit and the Lifetime Learning Credit, which help reduce education costs for qualifying expenses.

Allows taxpayers living and working outside the U.S. to exclude a certain amount of foreign earned income from U.S. tax ($108,700 for 2021).$

Taxpayers can deduct interest on up to $750,000 of qualified residence loans.$

Deduction for out-of-pocket medical and dental expenses exceeding 7.5% of adjusted gross income (AGI).

Deductible contributions to qualifying charitable organizations, limited to a percentage of the taxpayer's AGI.

Taxpayers can deduct state and local property, income, and sales taxes up to a combined limit of $10,000 ($5,000 if married filing separately).

Deduction for use of a portion of a home exclusively for business purposes, calculated using the simplified option or the regular method.