Tax Relief: Funeral Expenses from Health Savings Accounts (HSA)
New rules allow funds from Health Savings Accounts (HSA) to be used for the beneficiary's funeral expenses without additional taxes. This means citizens can more easily finance burial costs using their accumulated funds. The maximum amount that can be deducted this way is $5,000.
Key points
Ability to use HSA funds for funeral expenses without additional taxes.
A limit of $5,000 per beneficiary for funeral expenses from HSA.
Funeral expenses incurred within 90 days after the beneficiary's death will be treated as incurred immediately before death, simplifying settlements.
Expired
Citizen Poll