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Deductions & credits
"You can only take a tax deduction for an expense you paid with already-taxed money. Money you already paid tax on. "
With an HSA, I contribute $3600 and then deduct that amount from my taxes. So the money going into my HSA essentially has not been taxed... From that HSA account, I pay medical bills and then deduct what I paid. So the money going in is not taxed and medical withdrawals are not taxed. I don't get why payments from an HRA account are not deductible...
(I know your right... I just don't get why it's different...)
‎January 30, 2023
3:25 PM