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2020, Blog

One-Time HSA Contribution from your IRA

Many taxpayers are unaware of a rule that allows you a one-time contribution to your Health Savings Account (HSA) directly from an Individual Retirement Account (IRA).  In many ways, this situation may not be beneficial for most taxpayers; however, it may be worth looking into if you are cash-strapped with high medical costs.  A move from your IRA to your HSA provides tax and penalty-free funds.  Click the link below to read more about this type of transaction to decide if it will provide you tax savings benefits.

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