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Why hasn't my "balance due" went down after I added my medical expenses in deductions?
April 30, 2023
3:01 PM
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Troubleshooting
Hi Sofia25,
The deductible medical expenses are considered a non-refundable tax credit, meaning they can help lower how much taxes you’d have to pay.
To qualify, your household’s eligible medical expenses must add up to the lesser of 3% of your net income or $2,479. For example, if your net income is $60,000, all medical expenses beyond $1,800 are a credit against your taxable income. This may be the reason that your "balance due" has not gone down.
To learn more about Medical Expense Tax Credit's, you can check out this blog link!
Hope this information helps!
Mohammed
May 1, 2023
7:21 AM