Thread: IFV or PGD tax deductible?
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April 21st, 2011, 02:46 PM #11
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.
2003
2006
May 2010 (My VBA2C baby)
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June 15th, 2011, 05:22 PM #12
Thanks for posting this info!!
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June 27th, 2011, 02:37 PM #13
check to see if your healthcare fsa has a limit. Ours was I think 3,000 or 5,000 contribution in one calendar year.
8/2013
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June 28th, 2011, 05:18 PM #14
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 CPAfor just a healthy baby.
clomid 100mg 3-7 + Ovidrel trigger shot
ttc since September 2012
November 2013
February 2013
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June 28th, 2011, 05:37 PM #15
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.
for just a healthy baby.
clomid 100mg 3-7 + Ovidrel trigger shot
ttc since September 2012
November 2013
February 2013
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July 7th, 2011, 09:11 AM #16
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January 2nd, 2012, 08:22 PM #17
Wow great thread thanks for posting
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February 9th, 2012, 07:57 PM #18
Awesome info!!!
x2
EDD July 26th, '12 another
Still hoping and wishing for asomeday...maybe through HT
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April 19th, 2012, 08:10 PM #19
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.Australian couple
Parents to :4
:2: Working with Dr Potter at HRC for our HT :
or
Cycle #1 IVF in Australia (MIVF) 2010, ER 22, 18 fertilized, 6 survived to day 2, 1 TF = Chemical. 5 frozen day 2 - poor quality
Cycle #2 Aug 12 Dr Potter at HRC. ER 13, 10 mature, 9 fertilized, 8 to Day 3 PGD, 1 normal XX TF= BFN.
http://genderdreaming.com/forum/cycl...e-hrc-bfn.html
Sperm frozen at HRC so I can cycle alone next time
Cycle #3 December 12 Dr Potter HRC. Micro dose Lupron flare with GH. Preparation 12 weeks DHEA, acupuncture, chinese herbs, Metformin and extreme low carb diet. 11 eggs, 7 mature, 6 fertilized, 2 to day 5 Natera, both XY HB. NT :-(
http://genderdreaming.com/forum/cycl...ansfer-28.html
Cycle #4March 13 Dr Potter HRC. Micro dose lupron Flare with Follistim 450iu & Menopur 300iu & Saizen GH. Continued acupuncture, chinese herbs, low carb diet, Metformin and DHEA. Added fertility yoga. 31 Eggs, 24 Mature, 18 fertilized, 10 to day 5 aCGH, 4 normal Hatched Blasts- 3 XY and 1 XX. TF day 6 fully HB. 7dpd6t BFP.
Betas 7dpd6t = 134, 10dpd6t= 432, 12dpd6t = 713, 15dpd6t 2000
Ultrasound planned 15th April
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June 24th, 2012, 05:58 AM #20Dream Newbie
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?
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