I know I doâ¦.. Now as to the myth of distinctively Nova Scotian quilt designs: The quilts made prior to about 1850 in Nova Scotia drew more heavily on the British Isles for inspiration and frequently were indistinguishable from British design.
Health savings account. A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP). The funds contributed to an account are not subject to federal income tax at the time of deposit.
Recommended Answer. Contributions to your HSA reduce your taxable income as the contributions show up as deductions on line 25 - Health savings account deduction - of your Form 1040 in calculating your taxable income. Any amount you take out of your HSA and use for qualified medical expenses are also tax free to you.