Friday, February 4, 2011
Tax Credit
I just thought I would post really quick something we found beneficial doing our taxes this year. The NED.C website has a letter from the I.RS stating that you can claim all infertility treatments as well as homestudies, travel expenses, medications, labs, etc. as a medical cost for tax credit. It all counts because you wouldn't have been able to get to the infertility treatment (i.e. embryo adoption transfer) without the prior steps/costs. With all the fees for our embryo adoption it always seemed unfair to me that we wouldn't get the adoption tax credit...but with this info, it is nice to get to count it all for a different type of credit. =) It is not as good of one, but hey I am grateful for whatever we can get. We are hoping for a good refund this year to use on nursery furniture and large items such as a carseat and stroller. I hope this information helps someone that didn't know about it yet...
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6 comments:
I saw that letter and showed it to our tax man. He wouldn't do it (primarily due to the fact that none of our embryos have resulted in a live birth yet) =( It is really unfair how the insurance industry treats (or rather doesn't treat) infertility patients. It is sad that our country (including the IRS) doesn't recognize an embryo as a human life. Even many pro-adoption people I know seem to feel it is more noble to adopt a born child rather than one that is unborn as we do in embryo adoption. Hopefully by showing them our embryo pictures next to pictures of those same embryos after they are born will help all to realize that embryos are not "potential" life they are indeed fully human and fully alive.
Glad you found a way to force our government to honor what we already know: embryo adoption is in fact adoption.
Ditto to Elizabeth's words! Thanks Em for spreading the word!
Thanks so much for the info! I'll definitely have our accountant look into this!
i did know about it -- but not about the letter! thanks!
just read the letter. just a warning -- having med expenses exceed 7.5% of your income is hard. we tried to do it when we did IVF and weren't able to make it. but (and i thought this is what the letter would be about), you CAN claim the adoption tax credit for embryo adoption -- but not medical expenses. but travel, etc. we're doing that next year. you have to do it in the year after the baby is born (has a SS number, etc). if you want more info, let me know!
You have no clue who I am:) but my snowflake baby girl; Emma Grace is going to be 2 years old this may! It's been a crazy & wonderful journey and I have enjoyed very much reading your blog. ALSO thank you SO much for posting this "tax credit" information; we had no clue... Many blessings on your beautiful baby girl Sydney Grace (LOVE that name by the way)!! Thanks again for posting this:).
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