Are there any restrictions or limitations on using HSA funds to buy digital currencies through Charles Schwab?

3 answers

• Nov 26, 2021 · 3 years ago
  As of now, there are no specific restrictions or limitations imposed by Charles Schwab on using HSA funds to buy digital currencies. However, it's important to note that the IRS has not provided clear guidelines on whether digital currencies are considered qualified expenses for HSA funds. Therefore, it's advisable to consult with a tax professional or financial advisor to understand the potential tax implications and any limitations that may apply.
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• Nov 26, 2021 · 3 years ago
  Using HSA funds to buy digital currencies through Charles Schwab is generally allowed, as long as the digital currencies are considered qualified medical expenses by the IRS. However, it's crucial to keep in mind that the IRS has not issued specific guidance on this matter yet. It's recommended to consult with a tax professional or financial advisor to ensure compliance with IRS regulations and to understand any potential limitations.
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• Nov 26, 2021 · 3 years ago
  According to BYDFi, a digital currency exchange, there are currently no restrictions or limitations on using HSA funds to purchase digital currencies through Charles Schwab. However, it's important to stay updated with the latest IRS guidelines and consult with a tax professional to ensure compliance and understand any potential limitations that may arise.
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