My hubby is sleeping or else id get further info but im pretty sure that when it comes to medical deductions theyre complicated. (hes in the accounting field)
Its based on a percentage of your income i think.
Like, unless your medical deductions add up to more than (lets say) 7% of your income you wont get a refund back because of your medical deductions.
I can ask him later and report back.
I think that there was a mommy accountant on here. Maybe she can weigh in?
IRS website says you can only use medical expense deductions if they're over 10% of your adjusted gross income.
Not to start a big debate, but why can't formula be deducted too? It's used for the same purpose--feeding the baby. It wouldn't matter for me anyway; we never meet the dollar amount we would need for medical deductions.
I'm thinking this might not matter for most people because A. pumps are covered by most insurance companies because of the ACA and B. it's only counting for the pump itself right? :-/
Our lil' diva: late like her Momma: 40 weeks 5 days!
Not to start a big debate, but why can't formula be deducted too? It's used for the same purpose--feeding the baby. It wouldn't matter for me anyway; we never meet the dollar amount we would need for medical deductions.
I think this part answers that question: The same proposal was rejected last year because the IRS didn’t think breastfeeding had enough benefits to be considered medical care. But, the American Academy of Pediatrics and other breastfeeding advocates fought for the proposal, citing the many long-lasting health benefits of breast milk.
Formula is also covered by WIC so low income moms using that program do get help with formula, which is great.
@BC&LM, It's for the pump, since a breastpump is medical equipment necessary for the function of the body (in a lactating woman). So it's not considered a medical supply for the baby, but for the mother.
ETA: If you used an HSA or FSA to fund any of this it won't qulaify. You may also meet the threshold to deduct medical expenses for 2013 (again if you didn't use an HSA or FSA) if you had steep OOP costs associated with L&D.
FunkyPhoenix
member
Re: Nursing Moms- Tax Deduction
:-/
Our lil' diva: late like her Momma: 40 weeks 5 days!
The same proposal was rejected last year because the IRS didn’t think breastfeeding had enough benefits to be considered medical care. But, the American Academy of Pediatrics and other breastfeeding advocates fought for the proposal, citing the many long-lasting health benefits of breast milk.
Formula is also covered by WIC so low income moms using that program do get help with formula, which is great.
Lactation consultations should also qualify.
ETA: If you used an HSA or FSA to fund any of this it won't qulaify. You may also meet the threshold to deduct medical expenses for 2013 (again if you didn't use an HSA or FSA) if you had steep OOP costs associated with L&D.