Most organ donors don’t want recognition or rewards. It’s enough to simply know that their small sacrifice saved a life, and they’re happy to go on making a difference quietly, without fanfare.
But if you’re a donor, there is one reward you may be interested in: a tax deduction. Here are three ways to get a financial break as an organ donor.
- Itemize your medical costs
You can’t put a price on an organ, which means it can’t be listed as a monetary amount under the charitable donations section of your tax return. However, you can list medical expenses associated with your donation. And if you decide to itemize, you may want to claim all the out-of-pocket medical costs you had to pay during the donor process.
If you go this route, here are a few things to be aware of:
- To qualify, your out-of-pocket medical costs must be equal to at least 7.5% of your AGI (adjusted gross income).
- If you’re eligible, you can file these expenses at the top of Schedule A on Form 1040.
- If you choose to itemize, you can’t take the standard deduction, so make sure the amount you’ll save from itemizing is higher than the amount you’d save from taking the standard deduction—otherwise, it’s not worth it.
- Take organ donor-specific deductions (if you live in a qualifying state)
Idaho, Louisiana, Maryland, and Utah offer specific tax credits and deductions for organ donors. For example, in Utah, you can get up to $10,000 to cover unreimbursed medical expenses, as well as lost wages and travel costs.
15 other states also offer tax deductions, but there are certain requirements you’ll have to meet. For example, if you’re paying taxes in Virginia, you can deduct up to $5000 for unreimbursed out-of-pocket medical expenses that occurred within 12 months of your donation.
- Get paid leave as a federal employee
OK, this isn’t really a tax credit, but we want to make sure you know that if you’re a federal employee, you can take 30 days of paid leave per year when you donate organs, or seven days per year when you donate bone marrow.