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February 23, 2022
Question

Do high medical expenses impact my tax refund?

  • February 23, 2022
  • 1 reply
  • 0 views
I added medical expenses and my total refund amount is the same. Why?

    1 reply

    February 24, 2022

    As per our TurboTax article Non-Refundable Tax Credits

    non-refundable tax credit reduces the amount of tax you pay on your taxable income. You will not get money back from a non-refundable tax credit, but you can use it to offset how much you will pay.

    For example; If you determine that you owe $1,000 in personal taxes, but you’re also eligible for $500 in non-refundable credits, you’ll only pay $500. However, if you don’t owe any taxes and you are eligible for $500 in non-refundable tax credits, you will not get a $500 refund.

     

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