Tax Season: How to deduct IVF on your taxes | FertilitySpace | IVF Tax Write-Off

Anyone who’s paid for in vitro fertilization knows that it is extremely expensive and often costs much more than what you estimated going in.
Most sources online will say that the cost of IVF is around $15,000 for a cycle but once you factor in IVF medications, embryology add-ons such as ICSI or PGT-A, and a fresh embryo transfer, we’re looking at upwards of $20,000.
And that’s not even counting the cost of a frozen embryo transfer (FET).
If you paid a lot of your IVF expenses out-of-pocket last year for fertility treatment, then you may be able to take advantage of deducting a hefty amount on your taxes to help you get a better return.
If you plan on going this route, make sure to consult a tax professional to ensure you are covering all your bases for submitting correctly, have documentation for audit purposes, and get the best possible return for yourself.
Let’s dive into how much you can deduct for your IVF treatment, how you can deduct it, and who it makes sense for.
TIMESTAMPS
0:00 Intro
0:11 When can you deduct IVF on your taxes?
0:34 How much of your IVF costs can you deduct on your taxes?
1:33 How to calculate your IVF deduction amount for your taxes
3:17 Who can write-off IVF on their taxes?
4:14 Deciding on itemized deduction vs standard deduction
5:21 Which fertility treatment costs are eligible medical expenses for tax deduction?
6:41 IVF deduction calculator tool
7:31 Final tax tip from a tax accountant
READ THE ARTICLE - How to write-off IVF on your taxes:
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Resources mentioned in this video:
✅ IRS medical tax deduction eligibility questionnaire: www.irs.gov/he...
✅ Tool to help you calculate your IVF deduction can be found in our post:
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• Tax Season: How to ded...

[@NewlyNappy]

Super helpful tips and clear explanations! Thank you!

[@fertilityspace]

You’re very welcome! Glad it was helpful 😊

[@dennisemoreno2587]

What about if the treatment is out the country? Could I deduct flights and hotel stay along with the IVF procedure? Thank you

[@fertilityspace]

That's such a great question! You'd definitely want to check with a tax advisor; it appears that the deductions are for the medical expenses themselves, such as procedures, so travel may not count towards that. Definitely check and let us know if you find out anything interesting from a tax professional on this! Thank you for bringing this up! 💕

[@ramenandgyoza702]

Super helpful video! Is PGT - preimplantation genetic testing also tax deductible?

[@fertilityspace]

Glad to hear it’s helpful! Great question! All uninsured medical expenses are eligible but in that case, I’d check with a tax professional to be sure!

[@KS-cl8br]

Amount that Exceeds 7.5% of your AGI

[@KS-cl8br]

Only if itemize deduction

[@pavlinamaleshkova7175]

Can you deduct iui as well?

[@fertilityspace]

Great question! The IRS site doesn't specifically state IUI but they do say that the examples they list for eligible medical treatments is not an exhaustive list and that to determine if your expense can be included, they refer the reader to follow the guidelines, "Medical expenses are the costs of diagnosis, cure, mitigation, treatment, or prevention of disease, and for the purpose of affecting any part or function of the body. These expenses include payments for legal medical services rendered by physicians, surgeons, dentists, and other medical practitioners. They include the costs of equipment, supplies, and diagnostic devices needed for these purposes.". I'd check with a tax professional but if your IUI cycles were uninsured, it seems from this language that you could add these as a deduction as well. Here's the IRS page on medical expense deductions for reference: www.irs.gov/publications/p502#en_US_2021_publink1000178851
I hope that's helpful!

[@leep368]

Does this apply to surrogacy?

[@saullagesse486]

??????? ☀️