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Deductions & credits
I understand I cannot mix the 2 together. Taxes are not my strong point so I am just a bit confused on the rest. Can you give me a simple answer on this scenario.
Scenario A- Hypothetically, if I have money deducted from my payroll check Pre Taxed and deposited into my HSA (the most common way) Lets say we use the Max contribution allowed of $3650 for this scenario.
Scenario B-What I am currently dealing with. I had $3650 in total medical bills I paid from my payroll that has already been taxed. Half ($1325) I used prior to making my HSA account, the other $1325 I moved from my taxed funds from checking to my HSA and used that.
Would there be any difference between this scenario where one would have been better than the other. For example, is using my taxed funds costing me more $$$ vs if it was done with the Pre Taxed way or does it generally even out in the end after filing and how it affects my refund?