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pab020
New Member

Are cord blood banking fees deductible

 
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3 Replies
HollyP
Employee Tax Expert

Are cord blood banking fees deductible

Possibly. Cord blood contains stem cells that doctors may use to treat disease. Thus, expenses for banking cord blood to treat an existing or imminently probable disease may qualify as deductible medical expenses. However, banking cord blood as a precaution to treat a disease that might possibly develop in the future does not satisfy the existing legal standard that at a minimum a disease must be imminently probable.

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scottl44
New Member

Are cord blood banking fees deductible

Is this changed now so that banking as a precaution is now deductible, with:
<a rel="nofollow" target="_blank" href="https://www.congress.gov/bill/115th-congress/house-bill/4882/text?format=txt">https://www.congress.g...>
trammien
New Member

Are cord blood banking fees deductible

that is what I saw as well.  is it tax deductible now?

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