IFV or PGD tax deductible?

[praying for a miracle]

Hi all. I apologize if this thread has been posted before, but I was wondering if anybody has any input in this. Do you know if the cost of IVF or PGD if one doesn't suffer infertility issues is tax deductible?
Thank you to all for your responses.

[desperatefordresses]

They do not ask if it is for infertility or not.

If it is more than 7.5% of your income, you can take it as a deduction (thank God, because we had 24,900 last year!). Once you reach that minimum, you can actually deduct vision and dental, too. I also had to travel two hours, so I took 16.5 cents per mile.

All the co-pays I paid for my other two kids, the ER visit we had, their prescriptions...all of it was also deductable.

[patience4purple]

Great, because we are looking forward to claim it on the taxes. Has anyone done it last year?

[desperatefordresses]

I did already:-)

[nuthinbutpink]

Is it just the amount that exceeds the 7.5% of your income or can you claim the entire amount? So, if the amount is 8% of you income, do you just write off .5% or the entire amount?

[Hopingandpraying]

I'm pretty sure its the amount over 7.5%

[praying for a miracle]

Thank you ladies. Yes, I agree with you all, it is the amount over 7.5%, and with what I've spent with IVF/PGD so far, I can surely deduct a lot. However, when you deduct more than 20k in your taxes, it usually is a red flag for the IRS and most probably we will get audited. I know that we can also deduct all the meds related to IVF as well as the mileages from and to the clinic. My concern mostly is the PGD, or the IVF if we are fertile. For all of us who are doing this for gender selection. this is a route we choose to go for, it's not obligatory for us...it's something we want to, it's not medicaly required or ordered by a doctor....So, should the PGD still be deductible?

[desperatefordresses]

We asked our tax advisor and the PGD was deductible. We are technically infertile, but she did not even ask. It was under lab fees, which can be included.

http://www.irs.gov/publications/p502/ar02.html#en_US_publink1000178885

[Dr. Potter]

They do not ask if it is for infertility or not.

If it is more than 7.5% of your income, you can take it as a deduction (thank God, because we had 24,900 last year!). Once you reach that minimum, you can actually deduct vision and dental, too. I also had to travel two hours, so I took 16.5 cents per mile.

All the co-pays I paid for my other two kids, the ER visit we had, their prescriptions...all of it was also deductable.This is true. If you can put pre-tax dollars into health spending account and use this instead, you may not be subject to the 7.5% income test.

[praying for a miracle]

Thank you Dr. Potter. Health spending account sounds a great idea.

[NYFamilyOfFiveRoses]

When I am ready to do a pgd cycle, we plan to take a good amount out of the flexible spending account to use for the cycle.

[Bugsbunny]

Thanks for posting this info!!

[my4leafclover]

check to see if your healthcare fsa has a limit. Ours was I think 3,000 or 5,000 contribution in one calendar year.

[mis2ninos]

Is it just the amount that exceeds the 7.5% of your income or can you claim the entire amount? So, if the amount is 8% of you income, do you just write off .5% or the entire amount?

It is the amount above 7.5% of your AGI (income). The deduction goes on Schedule A along with other itemized expenses like mortgage interest, property tax, etc. You will see on the Schedule A form line 3 that you multiply your income by 7.5%. Subtract this number from the amount of your medical expenses and that will be your deduction. So, if your income is $100,000, you can only deduct the amount you spend over $7,500. Hope this helps.

I'm a CPA ;)

[mis2ninos]

I also wanted to add that not everyone may get this benefit. For example, if you do not have mortgage interest or property taxes to deduct, your greatest benefit may be to use the standard deduction instead of the itemized deduction. For a married couple filing jointly the standard deduction for 2010 was $11,400. So, if you don't have any other itemizing items for Schedule A, you may be better off taking the standard deduction. Using the example from above, say you pay $16,000 for your IVF. If your income is $100,000, your deduction would be $8,500 (16,000 - 7,500). Since this amount is less than your standard deduction of $11,400, you will take the standard deduction and not realize any benefit from paying for IVF. HTH.

[praying for a miracle]

Thanks mis2ninos. Glad to know that we have a CPA on board. Good luck on your cycle.

[Brat23]

Wow great thread thanks for posting

[annabel♥lee]

Awesome info!!!

[vickyaust]

Great posts. For the Australian girls I have info too.
I contacted our accountant this week and was told that any medical costs over $2000 are tax deductable. You then get 20% of the cost back as a refund. My accountant confirmed that IVF in another country will be tax deductable.

[darge001]

Wow! this is awesome if it is! hope its not too good to be true....vickyaust did u ask ur accountant if it matters that you did ivf for gender selection?

[GT77]

What days are you guys doing the biospy for PGD on? Day 3 or Day 5? I would love to know from Dr. potter with the new technology what day he thinks PGD should be done on? And, thank you so much for letting me know you can tax PGD for family balancing. Are you guys going to be doing a fresh cycle or a FET? Please let me know & what day transfer? I would greatly appreciate a response! GT

[AKMommy]

Dr. P does PGD on day 5 (aCGH). I did a fresh transfer and froze my normal left over embryo.


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