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Taxes and IF

happywifemomofonehappywifemomofone member
in TTC after 35
Have spent the whole morning working on taxes and am frustrated beyond belief!!!  Anyone out there schooled in taxes?  We used up the $1200 we put in our FSA within the first 2 months of 2011.  I am having difficulty getting to 7.5% of my AGI.  Have not included this money that was reimbursed by the FSA.  Our OOP expenses are around 7% of our AGI, adding this $1200 makes all the difference-but I'm not sure if I can add this, or not.  The $1200 was still money paid, even if it was pretax?  Was really hoping that the credit for IF that Resolve is working on would have been passed this year.....then it would be a credit and being 7.5% of our income would not matter.  Anyone?
TTC since 10/09 Me-43 DH-44 RE and testing 10/10-11/10, Recommending IVF 1/11 New RE AMA and DOR-DH low motility IVF #1.1 cancelled 3/11 due to poor response IVF #1.2 May 2011, one perfect 8-cell embryo, 3dt-BFN, IVF #2.1 Converted to IUI d/t poor response. New RE 9/2011. IVF 2.2 completed using HGH,EPP,DHEA, Q-10 and accupuncture. Transferred one 8-cell, grade one embryo on 10/19. BFP 10/31/11 Chemical pregancy on 11/2/11. Started stims for IVF #3, our final try, on 12-2-11. ET on 12/18. Transferred 3 Grade A embryos-BFFN Planning DE IVF, late March/early April- Donors ER expected to be 4/2-4/4. PAIF/SAIF welcome
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Re: Taxes and IF

  • Mrs.McIrishMrs.McIrish member

    I hate to be the bearer of more bad news but you can only deduct the portion ABOVE the 7.5% of AGI.  Even if you get to the 7.5 with the flex spending, it won't help you.

    Example:

    AGI $150,000

    Spent $15K on IF.

    $11250 is 7.5% of AGI. You can only deduct $15K-$11250=$3750

    TTC #1 since 8/1/10; Me:41 and BRCA1+, DH:46
    DOR (FSH 24.3)/ terrible egg quality ; homozygous MTHFR c677t
    5 IUI's: 2/11 to 6/11 and 1/12= BFN
    OE IVF#1-4 8/11-6/12= all BFN
    DE IVF#1 11/12 bad embryos= BFN
    DE IVF #2 2/13 BFP/Beta hell: m/c 5w6d
    CFNBC 7 months, not doing well; decided on guarantee program at RBA w/frozen DE
    DE IVF #3 1/14  ET 4BB; BFP;M/C 5w1d, incomplete m/c; MVA extraction in ER 7w1d

    DE FET#1 ET 3/1714; BFP, beta 1 3/27= 197, beta 2 3/31= 1586, beta 3 4/7= 13879!!
    First u/s= Twins with HBs at 6w2d! We are Team Pink x 2!!

    K & K born 11/21/14 at 38wks 4 days

    imageimage

    SAIF/PAIF Welcome


    http://waitingforraintostop.wordpress.com

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  • aurora1974aurora1974 member

    Ticker warning!!

     Also, because FSA is pretax money you can't add that in as what you've paid OOP.  Sorry.  I wish it was better news for you.

    image
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  • mtlaurelmtlaurel
    I'm in the same boat, as we used HSA money, which is also pre-tax. I was scraping the bottom of the barrel last week trying to add up mileage to appointments thinking it was the fed. reimbursement rate, but no it's only 19.5 cents per mile. I HATE IF!
    TTC #1 since June 2010
    Me: 36, DH: 42
    Dx: DOR and MFI

    DH: low count + very low motility; hormones all normal; Sperm DNA Frag. test = poor to fair; male karyotyping normal
    Me: FSH 13.4 + AMH 0.26 + hypothyroidism; Scratch the hypothyrodism (?); Blood clotting and immune panel all negative; endometrial biopsy normal

    IVF #1 (MDLF - Jul/Aug 2011): BFN (9R, 5M, 3F with ICSI, 3dt of 1 10-cell grade 2, no frosties)
    IVF #2 (EP-antagonist - Sep/Oct 2011): BFN (6R, 4M, 3F w/ ICSI, 3dt of 1 6-cell, 1 7-cell, grade 4s, no frosties)
    DE IVF #1 (shared cycle - June 2012): c/p (6R, 6F w/ICSI, 3dt 1 8-cell grade A- and 1 7-cell grade A-; no frosties)
    DE IVF #2 (shared cycle with new donor - Nov/Dec/ 2012): - BFP!!!!! 12/14/12. U/S on 12/27 shows twins!!!!!

    SAIFW/PAIFW
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  • Roxie5739Roxie5739 member
    imageMrs.McIrish:

    I hate to be the bearer of more bad news but you can only deduct the portion ABOVE the 7.5% of AGI.  Even if you get to the 7.5 with the flex spending, it won't help you.

    Example:

    AGI $150,000

    Spent $15K on IF.

    $11250 is 7.5% of AGI. You can only deduct $15K-$11250=$3750

    This exactly. I delayed some of my IVF#1 payments to this year so I can get the costs plus IVF#2 into the 2012 taxes

    Multiple ectopics, 2 failed IVF's
    IVF #1: Did not get to ET, embies all failed PGD (major chromosomal defects)
    IVF #2: We have 2 chromosomally perfect embies as a result of PGD (Boy/Girl) 1 failed the thaw (Girl) Transferred 1, yet ended as a c/p
    Thought it was the end of our TTC Journey 6/20/2012
    SHOCK BFP 9/28/2012: IT'S A BOY! and everything is normal !!!!!!

    Little A born 38w 2d on 05/23/13 and is a true miracle for this IF Vet!
     

    image              

     


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  • Temp556193750005695Temp556193750005695
    Being OOP sucks. This is so frakkin expensive and I hadn't even considered the fact that there are no deductions available.  Ugh.
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  • rubyrudyrubyrudy

    The good news is if you believe that your medical expenses will be a round the same amount you can increase the amount being contributed to you FSA; however you will want to remember that with FSAs if the entire account is not used by the appoint day then the funds contributed to the FSA will become income.

    Sound like to me that you FSA is the way to go for you. But you can always consult will a professional tax preparer when ever you have questions on FSAs and how they effect you taxes. You may want to still check with a professional tax preparer because you may be missing some medical deduction that you may not have thought of. For example a lot of women for get that they can deduct thier prenatal vitamins... 

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