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January 27, 2023
Question

Why no refund when I have 2000dollars in medical expenses

  • January 27, 2023
  • 1 reply
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    January 27, 2023

    A 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.

     

    Please see this TurboTax article to understand how the medical expenses affect your return: What is the Medical Expense Tax Credit (METC)? 

     

    Thank you for choosing TurboTax.