Romer
Recycles dryer sheets
I understand you can make a one time IRA to HSA direct contribution
What I was planning to do is withdraw $8750 (only one HSA account) from my IRA to my checking account
I was then planning on contributing $8750 from my checking account to my HSA
I wanted to confirm that the HSA contribution then offsets the IRA taxes from the same amount IRA withdrawal on my 1040.
It is similar to the one time contribution, but going through the checking account makes it two transactions and I can do it every year until I start Medicare
Do I have that correct? Thanks in advance
What I was planning to do is withdraw $8750 (only one HSA account) from my IRA to my checking account
I was then planning on contributing $8750 from my checking account to my HSA
I wanted to confirm that the HSA contribution then offsets the IRA taxes from the same amount IRA withdrawal on my 1040.
It is similar to the one time contribution, but going through the checking account makes it two transactions and I can do it every year until I start Medicare
Do I have that correct? Thanks in advance