My wife and i (male) live I Washington state and seem to be unable to have a child naturally, so unfortunately need to do IVF. Our current insurance will not oay for any amount of the process. Im 34 and tapping to my 401k from my previous employer instead gaining a debt seems to be our best option to pay for the fertility treatment. I read on the IRS that this will be considered a deductible medical expense subject to the 7.5% AGI and also not paying for an additional 10% tax penalty while doing an itemized deduction. I would like to confirm all this and to see if im missing anything else?
