I'm a student with a total income <13k but pay my own medical bills (my parents don't). These medical expenses are over 7.5% of my income for the year. Since my income is below the standard deduction, does that mean that an itemized deduction is useless? Or is there a way for me to get some money back from my medical expenses?
Any info on this would be helpful and l'm happy to provide a little more info on my situation if it helps answer my question.
Medical expense deduction when income is less than standard deduction
byu/spicy_good_memes intax
Posted by spicy_good_memes
2 Comments
> Since my income is below the standard deduction, does that mean that an itemized deduction is useless?
Correct. Your income is already below the standard deduction, so itemized deductions don’t help you.
It is worth noting that this is paying some of your own expenses, and if you pay more than half your own expenses, your parents are not entitled to claim you as a dependent. You *might* qualify for EIC and/or refundable AOTC, depending on further details. Otherwise, that doesn’t help you either. (Scholarships towards tuition and such count as support provided by not-you.)
You can’t pay less than zero in taxes. You aren’t paying taxes. What are you trying to achieve.