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Feb 24, 2021
2:04
:32
pm
BYUFootballisBack
All-American
If you invest that money instead, its like you are giving yourself a tax free
interest free loan for 30 years
so that money gets to grow and grow for 20-30 years tax free and then you pay yourself back with a small fraction of what that money has become
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BYUFootballisBack
Previous username
oddsewer
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BYUFootballisBack
Joined
Apr 29, 2007
Last login
May 5, 2024
Total posts
14,014 (722 FO)
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Messages
Author
Time
HSA Reimbursement Question for anyone in the know
BYUFootballisBack
2/24/21 1:02pm
I don't think itemizing matters at all. If you paid out of pocket, that is what you can reimburse.
TheLoneCougar
2/24/21 1:04pm
And if you can afford to keep the money in the HSA you should not use it.
FrontLineFan
2/24/21 1:07pm
Yes it's a long term investment vehicle. I never take any money out of mine.
Kauai
2/24/21 1:08pm
Curious why you think this way
willkie40
2/24/21 2:00pm
If you invest that money instead, its like you are giving yourself a tax free
BYUFootballisBack
2/24/21 2:04pm
It can grow and grow many multiples of what you put in it when you really need
Kauai
2/25/21 10:57am
I don't, I just was realizing that maybe I messed myself up by itemizing
BYUFootballisBack
2/24/21 1:10pm
By "this year" do you mean 2020?
dratax
2/24/21 1:29pm
Yeah I meant expenses for last year.
BYUFootballisBack
2/24/21 1:29pm
Maybe I misunderstood the article I was reading, but it sure made it sound like
BYUFootballisBack
2/24/21 1:09pm
That is correct, you can't deduct a medical expense if you paid for it with HSA. I don't know the answer to your
supertux
2/24/21 1:15pm
My gut tells me you can't reimburse any of the $10k since you technically itemized all of them even if it only
supertux
2/24/21 1:18pm
Thats what it seems like, my brain can't think if that sucks or not... haha
BYUFootballisBack
2/24/21 1:29pm
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