Question

Anyone else getting taxed for money that was placed in a dependent care FSA? Turbotax thinks this is money that was paid by my employer when I enter my daycare expense.

Forum|Forum|3 years ago
February 22, 2023
1 reply
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TurboTax Premier Online

Before your W-2 is printed, the amount for box 10 is removed from Wages in boxes 1, 3, and 5. Therefore, if you do not show that these dollars were not paid out on qualified dependent care expenses, they have to be added back to your Income.

Is this what you mean by "Turbotax thinks this is money that was paid by my employer"?

Also, the dollars spent cannot be less than your earned income, your spouse's earned income, or a token of $250/month if one of you is a student or disabled.

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