Fertility Tax Credit

Discussion forum for those particularly interested in IVF and embryo transfer including frozen embryo transfer.
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WndrGrl
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Posts: 117
Joined: Fri May 06, 2011 5:13 pm
Location: Seattle, WA

Fertility Tax Credit

Post by WndrGrl » Mon May 16, 2011 12:24 am

Has anyone else seen this? It took me about 2 minutes to email my local congress members.
Just Breathe...
TTC #1 9/2009
Unexplained

IUI #1 (femara CD3-7) = 11/12/2010 -- BFN Hysteroscopy - 1/28/2011
IUI #2 = 3/3/2011 -- BFN
IUI #3 = 4/1/2011 -- BFN

IVF #1
6/17/11 - ER
6/20/11 - ET

6/30 BFP on HPT
7/2 beta

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brit1612
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Posts: 591
Joined: Sun Sep 16, 2007 7:19 pm

Re: Fertility Tax Credit

Post by brit1612 » Mon May 16, 2011 1:48 am

Thanks for leaving this link! I had not heard of this before. If it passes I wonder if you can go back and claim expenses you have already had? That would be great for us!
After 7 attempts (2 negatives/3 miscarriages), we have TWO miracle boys!! If you would like to hear our story, please visit http://www.ivfsuccessstories.info. Never give up, it can happen for you!!

WndrGrl
Regular
Posts: 117
Joined: Fri May 06, 2011 5:13 pm
Location: Seattle, WA

Re: Fertility Tax Credit

Post by WndrGrl » Mon May 16, 2011 2:35 am

No idea Brit. I think it's an amazing thing. I sure hope it passes.
Just Breathe...
TTC #1 9/2009
Unexplained

IUI #1 (femara CD3-7) = 11/12/2010 -- BFN Hysteroscopy - 1/28/2011
IUI #2 = 3/3/2011 -- BFN
IUI #3 = 4/1/2011 -- BFN

IVF #1
6/17/11 - ER
6/20/11 - ET

6/30 BFP on HPT
7/2 beta

deftonesmo
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Posts: 447
Joined: Sun Apr 12, 2009 10:04 pm
Location: LA, CA

Re: Fertility Tax Credit

Post by deftonesmo » Mon May 16, 2011 3:30 pm

You can write off your fertility costs when tax time comes around (medical expenses). . . also, if you have a flexible spending account for medical costs at your job, you can have a % of your paycheck deducted each month pre-tax and get re-imbursed later . . . but the bill is awesome too =)
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Me: 33/Bilateral Hydrosalpinx/Tubes Removed
DH: Perfect =)
IVF #1: BFN =(
IVF#2: BFP! Beautiful Grace born 4.24.10
IVF#3: BFN =(
IVF#4: BFP! Beautiful Grady born 1.24.12

WndrGrl
Regular
Posts: 117
Joined: Fri May 06, 2011 5:13 pm
Location: Seattle, WA

Re: Fertility Tax Credit

Post by WndrGrl » Mon May 16, 2011 3:33 pm

Deft I believe to write that off it has to be a certain percentage of your income. I asked our tax advisor about it. For us we'd have to pay almost $15k out of pocket in order to claim anything on our taxes.
Just Breathe...
TTC #1 9/2009
Unexplained

IUI #1 (femara CD3-7) = 11/12/2010 -- BFN Hysteroscopy - 1/28/2011
IUI #2 = 3/3/2011 -- BFN
IUI #3 = 4/1/2011 -- BFN

IVF #1
6/17/11 - ER
6/20/11 - ET

6/30 BFP on HPT
7/2 beta

deftonesmo
Regular
Posts: 447
Joined: Sun Apr 12, 2009 10:04 pm
Location: LA, CA

Re: Fertility Tax Credit

Post by deftonesmo » Mon May 16, 2011 3:38 pm

Yes, IVF expenses are tax deductible (mileage too), but only the portion that is above 7.5% of your Adjusted Gross Income (not 15%). So if you have $10,000 in out-of-pocket medical expenses and your Adjusted Gross Income is $50,000, 7.5% of your AGI is $3,750. That means you can deduct $6,250 (10,000-3,750) on your Schedule A Itemized Deductions. There is a caveat if you used any money from a Flexible Spending account. You cannot take a deduction for that since it is already tax free.

http://www.ehow.com/how_6058411_deduct- ... taxes.html
http://www.growingfamilybenefits.com/ivf_cost
Image


Image
Me: 33/Bilateral Hydrosalpinx/Tubes Removed
DH: Perfect =)
IVF #1: BFN =(
IVF#2: BFP! Beautiful Grace born 4.24.10
IVF#3: BFN =(
IVF#4: BFP! Beautiful Grady born 1.24.12

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