All the following statements concerning HSAs are correct, EXCEPT: A. Group of answer choices HSA...
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Accounting
All the following statements concerning HSAs are correct, EXCEPT:
A. Group of answer choices HSA distributions used by the participant-taxpayer for the familys medical expenses are excluded from the taxpayers gross income.
B. Any HSA distributions not used for medical expenses are subject to federal income taxes.
C. If HSA contributions are less than the prescribed limits, the account earnings are included in the account holders gross income for federal income tax purposes.
D. Contributions will be deductible even if individuals do not itemize.
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