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Is there a penalty for using medical monies for personal…

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Is there a penalty...

Is there a penalty for using medical monies for personal use. Such as leasing a house. Paying off a car. Buying a truck and paying in full.

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65,000.00 was used for personal not medical from Blue Cross.

Submitted: 1 year ago.Category: Tax
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Answered in 3 minutes by:
3/13/2017
Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,469
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Hello, my name is***** goal is to give you a complete & accurate answer. I am working on your request now & I will respond as soon as possible.

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Tax Professional: Stephen G., Sr Income Tax Expert replied 1 year ago

Where did the $65,000. come from & how was it designated to pay for medical expenses?

Steve G.

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