Can I deduct the cost of egg freezing procedures and medication and annual storage fees?

Maybe.  Medical deductions are only included if you itemize your deductions and then only the portion of medical expenses which are more than 7.5% of your income. If you complete your income before you enter the Medical Expenses section, TurboTax will give you a number for 7.5% of your income before you enter any expenses. 


 

Per IRS Publication 502  Medical and Dental Expenses:
Fertility Enhancement - You can include in medical expenses the cost of the following procedures performed on yourself, your spouse, or your dependent to overcome an inability to have children. 

• Procedures such as in vitro fertilization (including temporary storage of eggs or sperm). 

• Surgery, including an operation to reverse prior surgery that prevented the person operated on from having children.

You can also add contact lens cleaning solution, hearing aid batteries, crutches, and mileage to see your doctor. Click here to see this IRS page on medical expenses to learn more expenses you are allowed to deduct.

Some health-related expenses cannot be claimed per IRS rules such as nonprescription supplements, vitamins, over-the-counter medications, toothpaste, and health club memberships. Click here to see this IRS list of common, but nondeductible medical expenses.