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not-happy
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Medical premiums private

premiums was in excess of $900.00 and didn't lower tax owing at all  Why? can this be carried over to 2017 and then claim approx. $1800.00

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Accepted Solutions

Medical premiums private

Your net incomeā€“not your total gross incomeā€“affects the amount of medical expenses you can claim as a deduction.

You can claim the amount of medical expenses that are over and above 3% of your net income, up to $2,237*, whichever is less.

Hereā€™s an example:

  1. Your net income is $25,000 for the year.
  2. You can claim medical expenses if they are over $750 (3% of $25,000).
  3. Your medical expenses add up to $840, so you can claim $840 - $750 or $90 as a deduction.

If your total medical expenses are less than 3% of your net income, they cannot be claimed as a deduction. In addition, remember that only expenses, or portions of expenses, that have not been reimbursed to you can be included as a medical expense for income tax purposes.

https://turbotax.community.intuit.ca/replies/2647801

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1 Reply

Medical premiums private

Your net incomeā€“not your total gross incomeā€“affects the amount of medical expenses you can claim as a deduction.

You can claim the amount of medical expenses that are over and above 3% of your net income, up to $2,237*, whichever is less.

Hereā€™s an example:

  1. Your net income is $25,000 for the year.
  2. You can claim medical expenses if they are over $750 (3% of $25,000).
  3. Your medical expenses add up to $840, so you can claim $840 - $750 or $90 as a deduction.

If your total medical expenses are less than 3% of your net income, they cannot be claimed as a deduction. In addition, remember that only expenses, or portions of expenses, that have not been reimbursed to you can be included as a medical expense for income tax purposes.

https://turbotax.community.intuit.ca/replies/2647801