Tax season can be a stressful time for many individuals and families, but did you know that there are some quirky tax credits you may be missing out on? By taking advantage of these lesser-known tax credits, you can maximize your wealth and potentially save a significant amount of money. Keep reading to uncover 9 quirky tax credits that could benefit you this tax season.

Home Office Deduction
Megan Smith, a self-employed graphic designer, was thrilled to discover she could claim the home office deduction on her taxes. This tax credit allows individuals who use a portion of their home exclusively for business purposes to deduct a percentage of their home-related expenses, such as mortgage interest, utilities, and insurance. To qualify, your home office must be your primary place of business and regularly used for business activities.
Lifetime Learning Credit
John Johnson, a lifelong learner, took advantage of the Lifetime Learning Credit to offset the cost of his continuing education classes. This credit allows individuals to claim up to $2,000 per year for qualified education expenses, such as tuition, fees, and books. Unlike the American Opportunity Credit, the Lifetime Learning Credit is available for an unlimited number of years and is not limited to degree-seeking students.
Electric Vehicle Credit
Sophia Brown, an environmentally-conscious consumer, was pleased to learn about the Electric Vehicle Credit when she purchased a new electric car. This tax credit can be worth up to $7,500 for qualifying electric vehicles and can help offset the higher upfront cost of these eco-friendly vehicles. To claim the credit, make sure you meet the eligibility requirements and have the necessary documentation from the vehicle manufacturer.
Savers Credit
William Thompson, a young professional just starting to save for retirement, was excited to discover the Saver's Credit. This credit is designed to encourage low- to moderate-income individuals to save for retirement by offering a credit of up to $1,000 for contributions to qualified retirement accounts, such as IRAs and 401(k) plans. To qualify, you must meet certain income requirements and be at least 18 years old.
Health Coverage Tax Credit
Emma Rodriguez, a self-employed health coach, benefited from the Health Coverage Tax Credit when she purchased health insurance through the Affordable Care Act marketplace. This credit helps eligible individuals pay for qualified health insurance premiums and can cover up to 72.5% of the cost. To qualify, you must meet specific eligibility criteria, such as being a trade-affected worker or receiving benefits from certain pension plans.
Foreign Tax Credit
Michael White, a frequent traveler for work, was relieved to learn about the Foreign Tax Credit, which allowed him to avoid double taxation on his foreign income. This credit provides a dollar-for-dollar reduction in your U.S. tax liability for foreign taxes paid on income earned abroad. To claim the credit, you must file Form 1116 with your tax return and meet certain requirements set by the IRS.
Child and Dependent Care Credit
Olivia Martinez, a working mother of two young children, took advantage of the Child and Dependent Care Credit to help offset the cost of daycare expenses. This credit allows parents to claim a percentage of their childcare expenses, up to $3,000 for one child or $6,000 for two or more children. To qualify, both parents must be employed or looking for work, and the care must be provided for a qualifying individual, such as a child under age 13.
Charitable Contributions
David Lee, a generous philanthropist, was pleased to discover that his charitable contributions could be tax-deductible. By donating to qualified charities, individuals can reduce their taxable income and potentially lower their tax bill. Keep in mind that there are specific rules and limits when it comes to deducting charitable contributions, so be sure to keep accurate records of your donations and follow the IRS guidelines.
Historic Preservation Credit
Sophie Anderson, a history buff and homeowner of a historic property, was excited to learn about the Historic Preservation Credit. This credit provides a tax incentive for rehabilitating and preserving historic buildings, including a credit of up to 20% of qualified rehabilitation expenses. To qualify, the property must be a certified historic structure and the rehabilitation work must meet certain standards set by the National Park Service.