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What if HSA funds are used to pay for items other than qualified medical expenses?

April 26, 2017expenses funds HSA items medical pay qualified Used

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What if HSA funds are used to pay for items other than qualified medical expenses?

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• If you use HSA funds for something other than a qualified medical expense, you need to report that amount as income when you file taxes. It will be taxed as regular income and, if you are under age 65, it will also be subject to a 10 percent tax penalty.