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Form 499 R 4 1

Form 499 R 4 1

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Instructions and help about Form 499 R 4 1

hey y'all welcome back to Terry's tax tips today we're talking about a health savings account or a flex spending account for medical expenses now this is a tax favored account which means if you contribute to your HSA that amount that you contribute is not being taxed for federal income tax purposes but there's a caveat you have to spend that money on qualified medical expenses so let's say that you contributed $77,000 to your HSA that's going to reduce your tax bill in come by $7,000 now let's say you pull that full amount out and you used it all on qualified medical expenses that is taxfree money

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