Monday, February 2, 2015

Tax Credit For The Treatment Of Infertility

The IRS allows medical deductions for fertility treatments.


Infertility treatments are tax deductible on your federal income tax form. Save receipts because depending on the amount spent on the treatments, you may receive a larger refund back from the IRS.


Percentage of Income


The IRS states medical expenses may be deducted if it is more than 7.5 percent of your adjusted gross income. Your AGI can be found on line 38 of your federal 1040 form.


Mileage


The miles traveled to and from doctor's appointments may be included in your medical treatment costs. The IRS recommends tracking the mileage in a log book that contains the dates and purposes of each visit.


In Vitro Fertilization


The IRS recognizes in vitro fertilization (IVF) as a tax-deductible medical expense. Additionally, the temporary storage of eggs and/or sperm is also considered a medical expense.


Surgery Reversal


Surgeries relating to infertility treatments are recognized by the IRS as a medical expense. Surgeries to reverse a prior surgery that has impacted that person's ability to procreate are also covered.


Acupuncture


Some women turn to acupuncture to increase their fertility, in addition to in vitro fertilization. The IRS allows acupuncture as a medical expense.

Tags: medical expense, vitro fertilization, your federal