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December 22, 2024
Question

HSA

  • December 22, 2024
  • 1 reply
  • 0 views

I'm under the yearly HSA contribution limit. But I did not use all the funds in my HSA account. It's my understanding the balance will Rollover to 2025. Will the balance in my account be taxed? 

 

1 reply

Employee
December 22, 2024

No. HSA contributions are tax deductible (if you are eligible); withdrawals are tax-free (if you use the money for qualified medical expenses); and growth in the account is also tax-free.