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TurboTax is suggesting the refund I will receive will be more than the total taxes I paid last year (due to medical expenses tax credit). Is that possible or a mistake?
My spouse and I have very little income (retired, with CPP/OAS). As part of the return, it looks like not only will I get all the taxes I paid in the year, back, as a refund, but also some more amount. That is because of some typical medical expenses over the last year. I thought the medical expense credit was a non-refundable credit (as in, it cannot exceed the tax liability).
Is it possible for me to receive a higher refund than the total taxes I paid, due to this medical expense credit, or does that indicate some sort of a mistake in the tax return?
Is it possible for me to receive a higher refund than the total taxes I paid, due to this medical expense credit, or does that indicate some sort of a mistake in the tax return?
‎February 23, 2024
4:08 PM