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New Member
posted Jun 3, 2019 1:39:26 PM

Are cord blood banking fees deductible

0 3 5365
3 Replies
Employee Tax Expert
Jun 3, 2019 1:39:28 PM

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.

New Member
Jun 3, 2019 1:39:29 PM

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.gov/bill/115th-congress/house-bill/4882/text?format=txt</a>

New Member
Oct 14, 2019 8:41:14 PM

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