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Started By
Message
Medical expense deduction/HSA question
Posted on 12/26/12 at 8:56 am
Posted on 12/26/12 at 8:56 am
I have a HDHP w/ HSA. I contributed the max last year, will end up doing so again this year, and again next year. I have a dependent that needs a procedure done that is probably going to cost about a little chunk out of pocket for me.
I read that I can deduct medical expenses if I itemize and my medical expenses exceed 7.5% of my AGI for 2012. I believe going forward its got to be > 10% before you can deduct.
My question is can I contribute to my HSA and get that deduction, and deduct medical expenses provided I itemize and the expenses exceed 10% of my AGI in 2013 and don't reimburse myself from my HSA? Or does the reimbursement matter?
I read that I can deduct medical expenses if I itemize and my medical expenses exceed 7.5% of my AGI for 2012. I believe going forward its got to be > 10% before you can deduct.
My question is can I contribute to my HSA and get that deduction, and deduct medical expenses provided I itemize and the expenses exceed 10% of my AGI in 2013 and don't reimburse myself from my HSA? Or does the reimbursement matter?
3
Posted on 12/26/12 at 10:35 am to rmc
I'm not sure of the answer to your question, but if you have enough money to to not use your HSA, then don't...just deduct the expense and use your HSA as a retirement account vehicle....something to consider...
Posted on 12/26/12 at 11:44 am to Zilla
quote:
I'm not sure of the answer to your question, but if you have enough money to to not use your HSA, then don't...just deduct the expense and use your HSA as a retirement account vehicle....something to consider...
That's where I'm going with it. I'm pretty sure my medical expenses will be deductible, I just want to make sure I get to deduct them and my HSA contribution if I don't reimburse myself from the HSA or pay any bills from the HSA.
Posted on 12/26/12 at 1:11 pm to rmc
oh I see ....good question...we need poodle
eta ...I recently rolled my hsa to hsabank.com for more investment opportunities
eta ...I recently rolled my hsa to hsabank.com for more investment opportunities
This post was edited on 12/26/12 at 1:13 pm
Posted on 12/26/12 at 1:35 pm to Zilla
quote:
eta ...I recently rolled my hsa to hsabank.com for more investment opportunities
That's where I am setup at right now.
Posted on 12/26/12 at 2:32 pm to rmc
My HSA contribution is pre-tax, thru cafeteria plan with employer. Contribution is not included in taxable income on W-2.
This post was edited on 12/26/12 at 2:33 pm
Posted on 12/26/12 at 3:51 pm to CHSBears
that's right....mine was too ...so no, you probably can't
Posted on 12/26/12 at 7:21 pm to rmc
quote:
My question is can I contribute to my HSA and get that deduction, and deduct medical expenses provided I itemize and the expenses exceed 10% of my AGI in 2013 and don't reimburse myself from my HSA?
yes
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