Grant to cover cost of brukinsa

[MyCLLJourney]

Does anybody (in the USA) know if grant money used to cover medication (Brukinsa) needs to be listed as income on my tax return? I have no idea who provided the grant money because the speciality pharmacy handled it.

[johnliston]

I'm not a CPA, but I never listed it. I beleive it's considered a gift for tax purposes and not taxable.

john

[MyCLLJourney in reply to johnliston]

I did read a question/answer that someone asked. I found it when I did a google search. It said if it was from a 503c, it was not taxable. I don't even know where my grant is from. It's likely not taxable.

[SofiaDeo]

If you aren't receiving some sort of tax document from the source, it's not income thus not taxable. Charities gift things to people, there are no tax documents associated with the gift.

[MyCLLJourney in reply to SofiaDeo]

I would think I would get a tax document by the end of january if it is taxable

[SofiaDeo in reply to MyCLLJourney]

I never got any documents from PAN. Nor did I get any from the drug company directly.

[MyCLLJourney in reply to SofiaDeo]

That's good to know. Thanks!

[lankisterguy Volunteer]

Hi MyCLLJourney,

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When I got grants, they never passed through my accounts, they acted like a discount on my out of pocket drug costs, effectively a cost avoidance.

In other words, if you view it for your taxes, as if you will deduct medical costs paid out of pocket, the grant reduces that expense.

-

Len

[Katie-LMHC-Artist]

I just read the replies. I’m also not an accountant. You actually didn’t receive the money for income/work. The money went towards your prescription. Astra Zeneca covers most of my Acalabrutinib. My insurance pays the rest. You could double check with the grant organization or the financial navigator that helped you get the grant if you’re worried. Take care!

[larry54]

No, it is not taxable.

[daisy1955]

No you don't need to claim it on taxes.

[TartanAlum]

According to IRS Publication 502, you only have to consider as income money you get from an insurance plan to offset out of pocket expenses, to the extent it exceeds your out of pocket expenses. I am getting Calquence with no out of pocket cost, first under grants, and now from AZ&Me (Astra Zeneca). Since I receive no money for it. I consider it to be like something covered under medical insurance. I have not claimed it.

As was already pointed out, I have not gotten any statements that would indicate income I need to report.

irs.gov/pub/irs-pdf/p502.pdf