Do you know whether there is a limit to the value of medical expenses you are allowed to deduct on taxes?
DH and I did IVF and a frozen embryo transfer and BOY was it expensive (but totally worth it!). I have the vast majority of my receipts available...just wondering if there is some kind of cap? We're doing taxes tonight. 
Thanks in advance!
apricot / 457 posts
You can only do this if you are itemizing and you can only deduct the amounts in excess of 10% of your AGI (Adjusted Gross Income). For example, if your AGI was $100,000, then you can only deduct medical expenses over $10,000. There isn't an upper limit to the deduction.
Helpful FAQ from IRS: http://www.irs.gov/uac/Claiming-a-Tax-Deduction-for-Medical-and-Dental-Expenses
Deductible Expenses: http://www.irs.gov/pub/irs-pdf/p502.pdf
pomegranate / 3533 posts
@lisa1783: Thank you so much! We did exceed 10%...now to find those receipts...
grapefruit / 4110 posts
Yes there isn't a cap, there is a minimum. We qualified the year we did IVF with over 7K over the minimum AND that was after our 10K of FSA funds. That was an expensive year. Also, you can deduct mileage and hotel expenses if they correlated directly to the medical treatment. There are limits for hotel rooms but anything helps.
pomegranate / 3533 posts
@brownie: @meganmp: That's fantastic! Thanks! Wish I'd saved gas receipts...but gas has been pretty cheap (in the grand scheme of things).
pomelo / 5660 posts
Biggest issue is the floor not the ceiling. Never had client actually be able to take medical expenses.
clementine / 903 posts
@FliegepilzHut: You don't necessarily need gas receipts. If you can reasonably estimate your number of trips and print out a map showing the miles, you can still support this type of deduction.
persimmon / 1316 posts
I have a similar question also. I want to deduct my IVF but it isn't over 10% of my husband and my combined income, but it is over mine alone. So not sure if I file separately if that would allow me to write it off? Any one know?
pomelo / 5660 posts
@Mrs.Pinecone316: It is normally not advantageous to file MFS. Consult your tax advisor, they can run MFJ and MFS scenarios
grapefruit / 4110 posts
@BandDmommy: we have taken them almost every year since ivf (5 years ago). And that's with two working parents. We just have tons of medical expenses and then infertility on top of that. I need to get on the medical for last year because we will most definitely qualify again.
persimmon / 1483 posts
@Mrs.Pinecone316: I would definitely run the two different scenarios, but yeah, we filed seperately one year for this exact reason. It wasn't a huge windfall by any means but something is better than nothing!
persimmon / 1483 posts
@BandDmommy: for folks that are paying for IVF and related meds out of pocket, it's not diffcult to hit the floor pretty quickly, even if doing very well for themselves.
pomelo / 5660 posts
@brownie: @Madison43: most of my clients are older and done having children. Glad you are able to use it! 
pomegranate / 3533 posts
@BandDmommy: We exceeded 10% by a few thousand dollars and got a modest refund.
@mrscobee: That's exactly what she did! Pretty handy. Also, for anyone who's curious, you can only deduct $50/person for a night in a hotel.
@Madison43: Absolutely! OOP IVF is really expensive...
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