Differentiate Special Accounts
Series 65 · Flashcards
SERIES 65 · FLASHCARDS
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QUESTION
What is the tax treatment of HSA contributions, earnings, and qualified withdrawals?
QUESTION
Which account type can be used for any purpose that benefits the minor, not only education?
QUESTION
Which account is commonly described as having "triple tax advantage" for medical costs?
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ANSWER
HSA: deductible contributions, tax-free growth, tax-free qualified withdrawals. The unique combination of tax deductions on contributions, deferred growth, and tax-free medical withdrawals provides comprehensive tax relief.
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