Messed Up Filing Tax

Emily0123 wrote: ↑ Hey guys,

I did my taxes for 2021 the other day, I bring it to a store that does it for me.

I totally forgot about a medical expense totaling about $6000 that happened on April 2021. I think this would make a bit of a difference.

Called the store and they said they can resubmit with the medical expense but I will have to pay the full fee again to the store.

The expense took place in April 2021. Just wondering if there is any way I can just hold onto the receipt and file it next year when doing 2022 taxes as this would be the easiest and read online that this may be possible? Or does it have to be filed this year for 2021?

Thanks in advance!

hwyc2007 wrote: ↑ So you don't want to make the adjustment yourself … after the Notice of Assessment?

Otherwise, med expense are claimed in a 12 month period ending within the tax year. In your scenario, the twelve months will be April 2021 to March 2022 for the tax year 2022.

Hope this helps.

ml88888888 wrote: ↑ if you have access to Myacct in CRA, you may be able to make changes online.

Emily0123 wrote: ↑ Lol umm I just have no idea how I would or how any of it works. Not saavy when it comes to this.

If I have to I would look into trying to figure it out or just re-pay the store to do it. If I can wait and use it for next year then no need for the hassle haha.

It’s weird cause that’s what I read online so I called the store and asked if there’s any way I can just use it for next year and he said no it must be done this for this year…

Emily0123 wrote: ↑ Hmm I don’t think I have access to that.

ml88888888 wrote: ↑ Because the ‘store’ or kiosk wants to pay again.

ml88888888 wrote: ↑ You have to register to get Access.

will888 wrote: ↑ OP, there is a by mail option for revising your tax return. It can't get any simpler than that.

https://www.canada.ca/en/revenue-agency ... eturn.html

hwyc2007 wrote: ↑ Nobody finding the way to RFD is not savvy :-)

Claiming it in tax year 2022 is viable. One minor thing I didn't bring up earlier … medical expenses are subject to income threshold. It may make a difference if there is a big difference in your 2021 and 2022 taxable income.

Emily0123 wrote: ↑ Lol.

Ohhhh. Wait so would the return from the medical expense be higher on a year where income is higher or would the return from the medical expense be higher on a year where income is lower?

ml88888888 wrote: ↑ The refund from medical expense crèdit will bé higher in a year with lower income because you can only claim the amt that is above 3% of your income.

hwyc2007 wrote: ↑The previous poster is right. I checked the condition for the past two years.
In 2020, it is "the *lesser* of $2,397 or 3% of your net income"
In 2021, it is "the *lesser* of $2,421 or 3% of your net income"
I suppose the bar will be slightly higher again in 2022

Whatever the final amount you are claiming, it will then transpire into a 15% non-refundable tax credit.

JUnit wrote: ↑ Do you have other unclaimed medical expenses between April 2020 and now (or expected in the next few weeks)? Since you can pick any 12 month period, it would likely be advantageous to pick one that has the most expenses. If that period ends in 2021, then you should adjust your 2021 taxes; if it ends in 2022, then it might be better to claim the expenses in 2022 (assuming your income will be similar in both years).

Emily0123 wrote: ↑ Cool thanks guys!

If I do end up amending the one that we just filed, do you guys know if there’s a higher chance for amendments to trigger a full review/audit?

ml88888888 wrote: ↑ If you have done everything legally and have Nothing to hide, you have Nothing to worry about.