/biz/ - Business & Finance

>>54337311
Yes, if you withdraw funds from your Health Savings Account (HSA) for non-medical expenses, the IRS will impose a penalty tax on the amount you withdraw, which is currently 20% of the withdrawn amount. In addition to the penalty tax, you will also owe income tax on the amount you withdrew, which will be added to your taxable income for the year.

If you withdraw funds from your HSA for non-medical expenses, but then reimburse those funds back into your HSA, the IRS will not penalize you. However, you will need to ensure that the funds are properly accounted for as a reimbursement and that you keep records of the transaction.

It's important to remember that the funds in your HSA should only be used for qualified medical expenses. If you use the funds for non-medical expenses without reimbursing them, you will be subject to the penalty tax and income tax.

>>18623058
I want to see the meme, anon.