We pride ourselves on having the friendliest
and most welcoming forums for moms and moms to be! Please take a moment
for free so you can be a part of our growing community of mothers.
If you have any problems registering please drop an email to email@example.com.
Our community is moderated by our moderation team so you won't see spam or offensive messages posted on our forums. Each of our message boards is hosted by JustMommies hosts, whose names are listed at the top each board. We hope you find our message boards friendly, helpful, and fun to be on!
I don't know what all the tax laws are per different states...but I just had to share how excited I am to have found out from our accountant last night - next year, when we do our taxes...since WE are paying for the IVF out of pocket (even with a credit card...) it will be tax deductible!!!! Because it's "medical expenses" paid Out of Pocket!
still sucks I have to spend $14,000 to try to get pregnant but that def. softens the blow!!!
@Karin - well, I was curious because I always look down the tax list of what's deductable and what's not...plus we go to an accountant to have ours done (we have a lot of stuff we can't do ourselves...)
So I asked him last night and he double checked and yup - he said that it IS tax deductable (as long as you are paying for it Out Of Pocket)...
TTC since March 2010 (too darn long) - 4 years, 2 months and counting... / Severe MFI / Stage 1 Endometriosis
October 2012 = Fresh IVF #1 - retrieved 8, 6 fertilized. Transfer 2. Fail.March 2013 = Frozen #1 - Transfer 2 of 4 left. Fail.
February 2014 = Frozen #2 - Transfer remaining 2 - IMPLANTATION!
8 weeks, D&C - blighted ovum - Triploidy
July 2014 = Fresh IVF #2!
"Sometimes the bad things that happen in our lives put us directly on the path to the best things that will ever happen to us!"
Basically, from what I see - anything up to 7.5 % of your AGI (annual gross income) is not covered - but anything OVER that is...so if you make $100,000 you can not claim $7,500 of that...(I think)..
However - if you do (from what I can tell) end up itemizing this - you should also include anything else that you pay out of pocket, medical wise too...
for example - I wear a hearing aid - and BATTERIES are tax deductable - which, obviously would never be anywhere near the deduction amount being $10 here and there...but adding my 5 - 6 cases of batteries I buy per year WILL be.
Now - i am using an FSA (flexible spending account) for my acupuncture...and other things (it's got $2750 on it this year) so anything I pay with that card is NOT tax deductable - but if I pay for a session out of pocket, I can keep that information and that'd deductable too!
Again, normally it's not easy to deduct medical expenses - but with the cost of IVF being around OR MORE $10K - aninsaneamountofmoney$$$ you bet your butt i'm going to make sure I keep every last receipt for EVERYTHING this year...medical, dental, fertility, you name it!
as long as - again - it's all Out of Pocket (if insurance pays or if your FSA pays it's not deductable)