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emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2314
Experience:  IRS licensed Enrolled Agent and tax instructor
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I am due a full refund this year from the IRS. I only made

Customer Question

I am due a full refund this year from the IRS. I only made 7,300 and my taxable income is 0. I paid my health insurance out-of-pocket each month. I would think that I should get some kind of credit for that towards my refund.
Submitted: 9 months ago.
Category: Tax
Expert:  emc011075 replied 9 months ago.

Hi. My name is ***** ***** I will be happy to help you.

Out of pocket medical expenses is a deduction. You need to have a taxable income to deduct it from. Deductions will reduce your taxable income to 0 but will not generate a refund unless you had money withheld from w2 or your social security statement for instance that you will get. You would only get back what was withheld.

Unless you had the medical insurance through Obamacare (State exchange of Market place) you will not get any credits for paying medical insurance.

Sorry, if that's not the answer you were hopping for.

Expert:  emc011075 replied 9 months ago.

I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. You find the rating bar on the top of the page – 5 stars. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.