Health Savings Accounts and Medical Expenses
Includes Tax Planning Tips Utilizing HSAs - Recorded 6/26/25
Individual taxpayers can deduct their medical expenses as itemized deductions, but only the amount that exceeds 7.5% of their adjusted gross income. To get a better tax benefit for certain out-of-pocket medical expenses, a taxpayer can also pay for expenses with a health savings account (HSA). This course will discuss what types of costs can be deducted as medical expenses and the rules for using the HSA. It will also discuss HSA tax planning strategies.
Learning Objectives
- Define how and when a medical expense is eligible to be deducted.
- Describe which individuals can contribute to an HSA and how much they can contribute each year.
- Calculate when an HSA distribution is taxable or not taxable.
- Describe when an HSA distribution is subject to a penalty.
Education Information
IRS Program Number: NMVBP-T-00301-25-S
Credit hours: 2 NASBA CPE / 2 IRS CE
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: QAS Self-Study (NASBA); On-Demand (IRS)
Field of Study: Taxes (NASBA); Federal Tax Topics/Federal Tax Related Matters (IRS)
Information can be found quickly by searching key terms in the text/PowerPoint using the built-in search feature.
Course expires one year after purchase.
Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.
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