My health insurance plan has since changed, and I am no longer eligible to contribute to an HSA plan. However, I am not required to remove those funds until I decide to use them for medical expenses, or decide t
Under the guidelines set forth in IRS Publication 502, you can claim the deduction in the tax year you actually pay the expense. For example, if you paid for an appendectomy in the current tax year and the surgery occurred in the beginning of the next tax year, report the expense on you...
Distributions fromHSAsfor qualified medical expenses continue to be a popular way to spend tax-free on health care. Contributing to an HSA offers a double tax advantage: deductions when contributions are made and tax-free withdrawals for qualified expenses. It’s essential to review the list of ...