HSA and tax
Date: Wed, 03/02/2011 - 19:28
HSA and tax
I am 68 years old. I need some urgent cash and want to withdraw money from my HSA account? My question is, shall I have to pay any tax on that? Thanks for any information.
Normally, HSA withdrawals for ???qualified medical expenses
Normally, HSA withdrawals for ???qualified medical expenses??? are free from federal income tax. However, if you're 65 years or more of age, then there is no penalty to withdraw funds from the HSA. As always, normal income taxes will apply if the distribution is not used for un-reimbursed medical expenses.
