I've been culling through all of my old bank statements tonight and pulling together exact totals for medical expenses for last year and hoping to get my taxes in before the baby comes. Closing in on $30k!!
Questions:
1. Are the IVF Meds deductible? What if they were from a specialty online pharmacy?
2. Do I have to submit all original receipts, or can I send with a spreadsheet with details and some bank statements and the totals? Then, if audited, pull together the receipts?
Of course, while going through all of this in real time in 2011, I wasn't as diligent as I should have been with regards to receipts, etc.. I guess I didn't think I'd actually be able to make such a large deduction, but it appears to be so!
Thanks in advance Ladies. What a dreary Saturday it's been. Ugh.
you can include any medicine that was prescribed by a doctor. But were those meds you bought from overseas? There are certain provisions if they were procured abroad.
You'd be surprised at what you can deduct! You can even deduct for travel expenses to/from medical procedure. Even for a home pregnancy test!
I guess I've got some more fun ahead of me this coming week actually doing this 'complex' tax return. For 2011, I used U.S. specialty pharma's. For the 2 cycles I did in 2010, I used ivfmeds.com (London), but the clinics I went to in 2011 insisted on their specialty pharmas, so it's deductible!
That you need to have spent a certain, rather large % of you income on med bills, I think it's like 15%, but then I reread and saw the 30k remark. Oh yeah, deduct that $h*t!!!
I kept track of every frickin mile we drove, meal we ate, etc etc...