Armed Forces in a designated combat zone or contingency operation, you may be able to file later. If you were serving in, or in support of, the U.S. The due date is April 18, instead of April 15, because of the Emancipation Day holiday in the District of Columbia-even if you don't live in the District of Columbia. However, for the 2022 income tax return, you may file Form 1040 or 1040-SR by April 18, 2023. Normally, that's the April 15 after the close of the tax year. Also, include amounts contributed for 2022 made in 2023 by the unextended deadline for filing your 2022 federal income tax return. Include on line 2 only those amounts you, or others on your behalf, contributed to your HSA for 2022. You cannot treat insurance premiums as qualified medical expenses unless the premiums are for: If, under the last-month rule, you are considered to be an eligible individual for the entire year for determining the contribution amount, only those expenses incurred after you actually establish your HSA are qualified medical expenses. The cost of home testing for COVID-19 for you, your spouse, or your dependent(s) is an eligible medical expense for tax purposes, which may be paid or reimbursed from an HSA.Įxpenses incurred before you establish your HSA are not qualified medical expenses. The cost of menstrual care products (tampons, pads, liners, cups, sponges, or other similar products) are also reimbursable for HSA purposes.Īmounts you pay for personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes for you, your spouse, and your dependent(s) for the primary purpose of preventing the spread of COVID-19 are treated as medical expenses eligible to be reimbursed from an HSA. Even though nonprescription medicines (other than insulin) do not qualify for the medical and dental expenses deduction, they do qualify as expenses for HSA purposes. As the HSA account beneficiary, you can pay these expenses for medical care for yourself, your spouse, and your dependents. See the Instructions for Schedule A and Pub. The existence of a fiduciary duty does not prevent the rise of potential conflicts of interest.Generally, “qualified medical expenses” for HSA purposes are unreimbursed medical expenses that could otherwise be deducted on Schedule A (Form 1040). There are no guarantees that working with an adviser will yield positive returns. Working with an adviser may come with potential downsides such as payment of fees (which will reduce returns). All investing involves risk, including loss of principal. This is not an offer to buy or sell any security or interest. We do not manage client funds or hold custody of assets, we help users connect with relevant financial advisors. SmartAsset does not review the ongoing performance of any RIA/IAR, participate in the management of any user’s account by an RIA/IAR or provide advice regarding specific investments. SmartAsset’s services are limited to referring users to third party registered investment advisers and/or investment adviser representatives (“RIA/IARs”) that have elected to participate in our matching platform based on information gathered from users through our online questionnaire. Securities and Exchange Commission as an investment adviser. SmartAsset Advisors, LLC ("SmartAsset"), a wholly owned subsidiary of Financial Insight Technology, is registered with the U.S.
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