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Crowdfunding??

PrincessSabertPrincessSabert member
in Infertility
Ok, crazy question time:  has anyone done crowd funding to help pay for treatment?   Any idea of possible tax or legal consequences?   Most loans are ridiculous rates,  and I have good credit.   Please share your thoughts or how you've paid for treatment,  aka multiple cars :tongue: in cash.  I'm trying IVF again in August.   Thanks.   :)
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Re: Crowdfunding??

  • dragonfaeriedragonfaerie member
    I don't believe there are tax consequences,  unless a single person gifts you an exorbitant amount. Most crowd funding sites charge a small percentage per gift, which is usually taken right from the gift so you aren't charged later.

    ---Trigger warning---

    Me: 31 DH: 27
    TTC since April 2013
    Two cancelled IUIs in Aug and Sept '15 due to low motility/count
    IVF round 1: January 2016
    ER: February 17, 2016; 9 retrieved, 7 mature, 7 fertilized
    Day 5 Blastocysts: 5 BB, 1 AB, all normal from PGS
    FET date: May 11, '16; transferred 1 AB embryo
    First beta: May 23, '16: 998!!  Second: May 25, '16: 1648
    EDD: January 27, 2017
    BabyFruit Ticker
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  • caitiemaecaitiemae member
    Don't know anything about crowdfunding, but I know I've seen a lot of people doing it. My husband and I opened up a credit card with 0% financing for one year. If you can get the cost down to where you're confident that you'll get it paid off in time, I'd highly recommend that route. It definitely saved us a bunch on interest payments plus we got about $450 worth of points from charging all my treatments. Best of luck! It's ridiculous how much this stuff costs!
    ***pregnancy mentioned***

    Me: 27/ DH: 29
    Dx:  obstructive azoospermia 
    IVF#1:  October 2015
    10/7/2015:  ER  11 retrieved, 8 mature, 7 fertilized w/ ICSI
    10/12/2015:  Transferred 5AA and 4AA blasts, froze one 4AA and 4BB
    Beta #1 9dp5dt:  122!!! BFP!
    Singleton, due June 2016

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  • KLake42KLake42 member
    If you don't offer substantial prizes in exchange for the donations, then it's a gift, and excluded from taxable income.  Most fertility crowdfunding campaigns don't do that (it's not like you're raising money to make a movie, and offering DVDs).

    Personally, we have kept our living expenses low (small house, and we share a car), and we took out a loan, interest around 7% (excellent credit).  I've also considered borrowing against my 401k, but I've avoided it so far.

    Me- 39 (turning 40 in April), TTC for the first time ever (since Jan 2015), low ovarian reserve
    Married 3/14/14 to my wonderful wife, but her sperm count is rather low
    TTC with frozen donor sperm and science

    7 IUIs, 7 BFNs.
    2 IVF attempts, both cancelled and converted to IUI, both BFNs.
    Decided that my tired old ovaries are ready to retire.
    Next step- reciprocal IVF, using my wife's eggs, my uterus!  
    fresh 5 day transfer (2 embryos) 4/17/17- BFP! 
    Identical twins "due" 1/2/17 (but anticipated arrival sometime December)

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  • PrincessSabertPrincessSabert member
    Thank you for the ideas.   We actually did borrow against DH's retirement but have since paid it back.   7% is good but still high for me,  I'd do home equity at 3 or 4% before that.  We've talked about getting second jobs too, though I insist on still seeing my husband - I refuse to let our relationship suffer too much from this.   Never thought of the credit card idea,  that's interesting.   Thank you all for the suggestions and good luck to you!   :)
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  • PerraSuciaPerraSucia member
    For this first round we have done savings / credit card with 0% interest for a year but if it doesn't work we will borrow against my 401k. Through my work any interest you pay just goes back to your 401k anyway so it's like paying yourself. 
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