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P
pab020
June 3, 2019
Question

Are cord blood banking fees deductible

  • June 3, 2019
  • 1 reply
  • 0 views
No text available

1 reply

HollyP
HollyP
Employee
June 3, 2019

Possibly. Cord blood contains stem cells that doctors may use to treat disease. Thus, expenses for banking cord blood to treat an existing or imminently probable disease may qualify as deductible medical expenses. However, banking cord blood as a precaution to treat a disease that might possibly develop in the future does not satisfy the existing legal standard that at a minimum a disease must be imminently probable.

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    S
    scottl31
    June 3, 2019
    Is this changed now so that banking as a precaution is now deductible, with:
    <a rel="nofollow" target="_blank" href="https://www.congress.gov/bill/115th-congress/house-bill/4882/text?format=txt">https://www.congress.gov/bill/115th-congress/house-bill/4882/text?format=txt</a>
    T
    trammien
    October 15, 2019

    that is what I saw as well.  is it tax deductible now?

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