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June 1, 2019
Question

If i withdraw cash from my HSA for a non qualified expense how much of a penalty would i be hit with?

  • June 1, 2019
  • 1 reply
  • 0 views

I am stuck in a bind and need the extra cash to pay bills. I was considering withdrawing cash from my HSA account. I was just curious about the penalty i will be hit with if i withdraw cash from the account for a non qualified expense.

    1 reply

    Employee
    June 1, 2019

    Regular income tax plus 20% penalty.  

    Employee
    June 1, 2019
    Sorry, regular income tax plus 20% penalty!