Taxes - does shared risk count as deduc. med. expense?

na24

If we did shared risk for IVF, does that count as a deductible medical expense? ?I know that regular IVF expenses are. ?But I'm wondering if the whole concept of shared risk?paying for a gamble, basically?is exactly the same thing in the eyes of the government. ?We're looking for our paperwork right now, but I don't even remember if we paid the clinic directly or just paid IntegraMed or what. ?Should that matter?

na24

Whoops. ?I thought I was on SAIF. ?(But if any of y'all here know, that's cool too.)

amygdala

Yes, it does count as a deductible medical expense. ?If your total out-of-pocket medical expenses for the year are 7.5% or more of your income, you can deduct ALL of your medical expenses for that year (that you have receipts for, of course). ?(Go to your pharmacies & request a yearly summary of prescription expenses...they count too.) ?We did shared risk through IntegraMed in 2006 & deducted the full loan amount for that year. ? It is a one-time thing though...you cannot deduct the interest paid on the loan in subsequent years, only the initial amount of the loan in the year that you borrowed the money. ?HTH!

amygdala

OH, & congratulations on your pg!!