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Is there a penalty for using medical monies for personal

Customer Question
use. Such as leasing a...
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.
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: 65,000.00 was used for personal not medical from Blue Cross.
JA: Is there anything else the Accountant should be aware of?
Customer: No
Submitted: 10 months ago.Category: Tax
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Answered in 3 minutes by:
3/13/2017
Tax Professional: Stephen G., Sr Income Tax Expert replied 10 months ago
Stephen G.
Stephen G., Sr Income Tax Expert
Category: Tax
Satisfied Customers: 7,239
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 10 months ago

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

Steve G.

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