Is IVF Tax Deductible?

Fertility treatments such as in vitro fertilization (IVF) can be very expensive and patients often end up with high out-of-pocket costs. However, as with all medical expenses, it is possible to recoup some of those costs by deducting your fertility care expenses from your taxes. Here are some tips for getting a better return on your taxes:

1. The amount you can write off depends on your income

Any eligible medical expenses that exceed 7.5% of your adjusted gross income (AGI) can be written off your taxes. So, for example, if your AGI ends up being $100,000 for the year, any medical expenses above $7,500 can be deducted from your taxes. And fertility treatments are included in those deductible medical expenses!

2. Keep receipts for everything related to your fertility journey

According to the IRS, medical expenses don’t just include treatment costs, but lab storage fees, medications related to your fertility, acupuncture, therapy, birth control pills, pregnancy tests, vasectomy reversal surgery, supplements prescribed by your clinician, health insurance deductibles and copays, transportation to get medical care, and more. These expenses can be itemized on Schedule A.

3. Try to concentrate your fertility treatment payments into a single calendar year

When you add up the cost of fertility treatment as well as your other itemized deductions, the total must surpass the standard deduction before you can benefit from itemizing your deductions. Since fertility treatment is very expensive, it may benefit you to try to get treatment within a single calendar year so that as many of those expenses as possible are above the standard deduction threshold.

4. Consult with an accountant

Taxes are complicated! An experienced accountant will be able to ensure that you are maximizing your deductions across the board and saving money on your tax return.

If you are just starting to see your clinician about infertility, knowing these tips may help you save money when it comes time to do taxes. Talking with your accountant beforehand can help you stay on top of the receipts and records you will need as you prepare your income tax return.

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