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re: Anybody else using their HSA as a retirement vehicle?
Posted on 3/22/24 at 8:22 am to DiamondDog
Posted on 3/22/24 at 8:22 am to DiamondDog
I'll give you another good fact.
HSA accounts don't have an RMD.
But I will also give you one bad fact.
If anyone other than a surviving spouse inherits the account, it is an immediate taxable distribution in the year of inheritance, to the beneficiary.
HSA accounts don't have an RMD.
But I will also give you one bad fact.
If anyone other than a surviving spouse inherits the account, it is an immediate taxable distribution in the year of inheritance, to the beneficiary.
This post was edited on 3/22/24 at 8:25 am
1
Posted on 3/23/24 at 10:13 am to LSUFanHouston
quote:
If anyone other than a surviving spouse inherits the account, it is an immediate taxable distribution in the year of inheritance, to the beneficiary.
I believe the beneficiary has up to 12 months to submit requests for reimbursement of qualified medical expenses, and if the owner was keeping good records, they could conceivably eliminate the entire taxable balance.
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