Yes, IVF can be deducted as a qualified medical expense.
You can include in medical expenses the cost of the following procedures to overcome an inability to have children.
Procedures such as in vitro fertilization (including temporary storage of eggs or sperm).
Surgery, including an operation to reverse prior surgery that prevented the person operated on from having children.
Similarly, any unreimbursed expenses for prescription medications payed with after dollars (out of pocket) are also deductible subject to those same limitations. You have to itemize deductions in order to take the medical expense deduction. Also, If you are under 65 years, you can only deduct your medical expenses that are more than 10% of your adjusted gross income. If you or your spouse are 65 or older or turned 65 during the tax year, you can still deduct the amount of your medical care expenses that is more than 7.5% of your adjusted gross income.
Medical Expenses are claimed in Schedule A - Itemized Deductions
Please note that Itemized Deductions will only "help" when they total more than your standard deduction.
For 2016, standard deductions are:
For a taxpayer under 65, not claimed as a dependent
- $6,300 for Single
- $12,600 for Married Filing Jointly, or Qualifying Widow(er) with dependent child
- $9,300 for Head of Household
- $6,300 for Married Filing Separately
- If you are over 65 or blind, add $1,250 for each instance or add $1,550 each instance if single and not a surviving spouse
In TurboTax, you can enter Medical expenses by following these steps:
- Click on Federal Taxes
- Click on Deductions & Credits
- Under All Tax breaks, locate the section Medical and click on Show more
- Click Start next to Medical Expenses.
