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Tax Credit for Fertility Treatments: Up to $40,000 Credit.

This law introduces a new tax credit designed to help taxpayers cover the costs of fertility treatments, defined as assisted reproductive technology (e.g., IVF). Individuals and families incurring these expenses can claim a credit of up to $20,000 (or $40,000 for certain married couples) annually against their tax bill. The credit is subject to income limits and does not cover expenses already reimbursed by insurance.
Key points
The maximum tax credit is $20,000 annually for single filers and $40,000 for married couples if both incur expenses.
The credit applies to costs related to assisted reproductive technology (ART) incurred by the taxpayer, their spouse, or a dependent.
The credit is phased out for higher-income earners: above $200,000 AGI for single filers and $400,000 AGI for married couples.
Any unused portion of the credit can be carried forward to subsequent tax years, up to a maximum of 5 years.
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Additional Information
IVF Access and Affordability Act
Print number: HR 9269
Sponsor: Rep. Lawler, Michael [R-NY-17]
Process start date: 2024-08-02