I had some substantive, nonrecurring medical expenses this year. I decided to take a withdrawal, my first ever, from my HSA at Fidelity, to help
cover these expenses.
Since this is my first time, I'm wondering how this all works out at tax time for 2024. Presumably, Fidelity will send one of the forms showing the withdrawal / income
I'll have to add this to my return as income (?), but how does it get backed out since it's deductible, right? I have the receipts showing what I spent and how much.
I just hang onto those in case I receive an IRS inquiry?
If anyone can just briefly outline the mechanics, I would appreciate.
cover these expenses.
Since this is my first time, I'm wondering how this all works out at tax time for 2024. Presumably, Fidelity will send one of the forms showing the withdrawal / income
I'll have to add this to my return as income (?), but how does it get backed out since it's deductible, right? I have the receipts showing what I spent and how much.
I just hang onto those in case I receive an IRS inquiry?
If anyone can just briefly outline the mechanics, I would appreciate.
Statistics: Posted by LaurenRose — Tue Jul 23, 2024 6:54 pm — Replies 5 — Views 512