11-21-2018, 11:57 AM
I ran across something that I find interesting. I believe we would use it when we get to that point....
In your lifetime, you are allowed to make ONE tax-free distribution from the PRE-TAX dollars in your Traditional IRA in order to fund or add to your HSA account. You don't pay any taxes on the distribution from the Traditional IRA when your custodian transfers it to your HSA and yet, after you add it to an HSA , it (and all the eventual earnings) can be withdrawn tax-free to pay qualified medical expenses. Some restrictions apply. See:
HSA Rules For Employer Contributions
The distribution counts as part of the annual contributions to an HSA. Seems like a win-win. What do you think?
In your lifetime, you are allowed to make ONE tax-free distribution from the PRE-TAX dollars in your Traditional IRA in order to fund or add to your HSA account. You don't pay any taxes on the distribution from the Traditional IRA when your custodian transfers it to your HSA and yet, after you add it to an HSA , it (and all the eventual earnings) can be withdrawn tax-free to pay qualified medical expenses. Some restrictions apply. See:
HSA Rules For Employer Contributions
The distribution counts as part of the annual contributions to an HSA. Seems like a win-win. What do you think?