Fact Based List:

4 Tax Question About Health Savings Accounts

Submitted by Randall Clough on Mon, 03/28/2016 - 11:03


  1. How are funds accumulated in a HSA taxed prior to distribution? - An HSA generally is exempt from income tax unless it ceases to be an HSA
  2. How are amounts distributed from a Health Savings Account taxed? - Distribution from an HSA used exclusively to pay qualified medical expenses of an account holder is not includable in gross income
  3. When may an account owner transfer or rollover funds into an HSA? - Funds may be transferred or rolled over from one HSA to another HSA within sixty days of receiving the distribution
  4. What are the rules regarding moving money from an IRA to an HSA? - 1 they are eligible for an HSA, 2 they have a permitted IRA, and 3 they have not already completed an IRA to HSA funding distribution


Source: Think Advisor
Source URL: http://www.thinkadvisor.com/2016/03/24/4-tax-questions-about...



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