Eighteen Largest Individual Income Tax Expenditures
| Tax Expenditure | Amount (billion $) |
|---|---|
| Exclusion of employer provided health benefits | 143 |
| Exclusion of pension and IRA contributions and earnings | 127.2 |
| Reduced rates on capital gains and dividends | 91.3 |
| Mortgage interest deduction | 71.7 |
| Earned income tax credit | 67 |
| Exclusion of Medicare benefits | 66 |
| Child tax credit | 57.9 |
| Deduction for state and local taxes | 51.8 |
| Exclusion of capital gains at death | 48.4 |
| Charitable contribution deduction | 43.6 |
| Exclusion of benefits under cafeteria plans | 36.6 |
| Exclusion of untaxed Social Security benefits | 34.4 |
| Property tax deduction | 28.6 |
| Exclusion of investment income on life insurance and annuity contracts | 28 |
| Exclusion of interest on state and local government bonds | 27.3 |
| Exclusion of capital gains on sales of principal residence | 24.8 |
| Post-secondary education tuition credit | 24.5 |
| Subsidies for participation in exchanges | 20.5 |
Source: Joint Committee on Taxation, Estimates of Federal Tax Expenditures for Fiscal Years 2012-2017, JCS-1-13, February 1, 2013.