What’s Deductible and How to Take Advantage of It
If you’re thinking about fertility treatment or have already had it, you should be aware that many of the costs may be deductible as medical expenses on your federal income taxes. According to an IRS rule, medical expenses that exceed 10 percent of your adjusted gross income may be itemized and deducted from your annual taxes. IRS Publication 502 includes treatment for fertility enhancement and specifically mentions IVF, including temporary storage of eggs or sperm, and surgery, including an operation to reverse prior surgery that prevented the person operated on from having children. Expenses which were not covered by insurance and for which you paid out of pocket may be itemized.