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Question about Health Savings Account Taxes? |
Here's the deal. I took out money from my HSA when I left my employer. The only real quidance I can find out what Qualifies as a medical expense is "that your purchase provides relief from physical or mental problems/symptoms." I purchased a new couch and memory foam bed in 2006. They both releave back pain caused by my old fruniture and help calm the stress of everyday life when I take a nap. What do you all think, qualify or no? Unless the bed is a hospital bed, then no household furnishing are not deductible on the Federal Tax return for Medical expenses, or basically any other deduction or expense Publication 502 http://www.irs.gov/publications/p502/ind... You real mistake was closing the HSA. HSAs are totally portable. You can keep the money in the HSA until you die, regardless of employment. You can even purchase your own high deductible health insurance and continue contributing the the existing HSA even if your new employer does not offer HSA eligible insurance. Neither of the purchases you mention qualify as medical expenses. No, these would not qualify. This page shows what is eligible. There is a slight possibility you could get these, if you have a doctor (must be MD) write a letter of necessity. http://www.ipsd.org/uploads/dec_flex%20h... |
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