Hi guys
My wife and I both work and our salaries are roughly identical. We're trying to have kids and have been spending scary amounts of money on IVF treatment.
We're now making preparations for our tax returns and were wondering how to use the medical expenses deduction.
I understand that one spouse can claim all medical expenses of the couple on his/her tax return. But is it possible to split the household's total medical expenses between the 2 spouses for tax purposes? Medical expenses deduction is capped at 2m yen and I am pretty sure that with IVF costs our total household bill for medical expenses is above that cap. Could I claim the medical expense up to 2m yen and have my wife claim the excess on her tax return?
Medical Expenses Deduction for double income couple
Re: Medical Expenses Deduction for double income couple
It is per household. So in short, no.
Aiming to retire at 60 and live for a while longer. 95% index funds (eMaxis Slim etc), 5% Japanese dividend stocks.
Re: Medical Expenses Deduction for double income couple
Create a Spreadsheet and list all Medical Expenses
If the total is greater than Y100,000, then you can book the the excess to a maximum of Y2,000,000 against the higher Marginal Tax rate.
The deduction is per household.
If the total is greater than Y100,000, then you can book the the excess to a maximum of Y2,000,000 against the higher Marginal Tax rate.
The deduction is per household.
:
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.
:
This Guide to Japanese Taxes, English and Japanese Tai-Yaku 対訳, is now a little dated:
https://zaik.jp/books/472-4
The Publisher is not planning to publish an update for '23 Tax Season.