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Subject:
HSA funded by IRA?
Category: Business and Money Asked by: dhsmith-ga List Price: $20.00 |
Posted:
25 Oct 2005 07:07 PDT
Expires: 24 Nov 2005 06:07 PST Question ID: 584644 |
Can I fund my HSA with my IRA and not take out tax, like a rollover? I am living off my IRAs while unemployed. I am 61. |
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There is no answer at this time. |
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Subject:
Re: HSA funded by IRA?
From: maddbobbs-ga on 28 Feb 2006 10:50 PST |
Here should be an answer for you. If you need more info about how to avoid taxes and penalties, let me know. Can I roll over an IRA, 401(k) or other retirement plan into an HSA? You cannot directly roll funds in an IRA, 401(k) or other retirement plan into an HSA. You can withdraw funds from one of these accounts, pay applicable taxes (and penalties) on the amount you withdraw, and then use the remaining funds to make a contribution to your HSA. However, the amount you contribute to your HSA is still limited by the annual contribution limits. From: http://www.ustreas.gov/offices/public-affairs/hsa/faq_managing.shtml#hsa5 |
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