All, hoping someone can help me out with my question. I googled it, but keep getting an answer to a question I'm not asking. Here's my situation: I have about $30,000 in an HSA account that I've not touched over the years. I could reimburse myself every penny of that with qualifying medical expenses, but I've not done that. What I'm thinking of doing is taking a portion of those monies and moving them into my trading account to try and take advantage of the lower prices we've seen because of the sell off. These monies in my HSA account are already invested, but it will not allow me to invest in individual securities; hence, why I'd like to take portion of those funds and move them into my trading account where I can pick up individual equities.
Can this be done as simply as what I'm thinking? I have qualifying medical expenses so I should be able to cut myself a check for $10,000 and move those funds into my trading account, correct?
Please check my understanding as far as tax implications, there shouldn't be any on the HSA gain as I have the qualifying medical expenses. If invested in an after-tax trading account, there'd be no tax implications on those funds until I decided to sell the equities. I'm a buy and holder so I'd not be looking to sell anything I'd be buying anytime in the next 3-5 years. Did I get that right?
What say you guys? Are there things I'm missing? Obviously our motivation here is that we feel we can do better picking up individual equities than the fund families offered up by my HSA.
Can this be done as simply as what I'm thinking? I have qualifying medical expenses so I should be able to cut myself a check for $10,000 and move those funds into my trading account, correct?
Please check my understanding as far as tax implications, there shouldn't be any on the HSA gain as I have the qualifying medical expenses. If invested in an after-tax trading account, there'd be no tax implications on those funds until I decided to sell the equities. I'm a buy and holder so I'd not be looking to sell anything I'd be buying anytime in the next 3-5 years. Did I get that right?
What say you guys? Are there things I'm missing? Obviously our motivation here is that we feel we can do better picking up individual equities than the fund families offered up by my HSA.