HSA - Qualified Medical Expenses?
August 24, 2007 | General
What are my options if I withdraw money from my HSA for an expense I thought was a qualified medical expense, and I find out later that the expense does not qualify?
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Comment by JGrimes August 28, 2007
Any amount of the distribution not used exclusively to pay for qualified medical expenses of the account holder, spouse, or dependents is includable in gross income of the account holder and is subject to an additional 10% tax.
If the withdrawal was indeed a mistake, you can return the money to the HSA if there is clear and convincing evidence. You must repay this money before April 15th of the year following when you knew or should have known that the withdrawal was a mistake.