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High health care expenses and 1095-A information result in TT advice to use a 1040-A with an alleged tax refund of $5,500 instead of a 1040 and owe $2,400. Sound right?
In 2016, I had exorbitant medical expenses and the 1095-A showed I paid far too much for my health insurance and didn't take enough tax credits from the government instead. So when I inputted this information into Turbo Tax along with all my other itemized deductions, TT came back with a recommendation to file Form 1040-A (instead of a regular Form 1040) and use the standard deduction for "married, joint" and eliminate all itemized deductions. This is how I went from "owing money" to being "owed money."
My question went to, "Is it possible to get a refund this high just because of our medical expenses" and without using our other itemized deductions?
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‎June 6, 2019
3:34 AM