I spent $10745 on child care expenses (for one child, but I have two children).
I funded a dependent care FSA with $5000 and spent all of it.
Turbotax is calculating my expenses for the dependent care credit as $1000 ($6000 limit - $5000 from FSA).
Shouldn't the remaining expenses be $5745, which makes me just shy of the $6000 limit?
No, the amount by which you funded your dependent care FSA is deducted from the $6,000 qualified expense limit (for two or more children) when calculating the credit. So, $1,000 is correct. For more information, see the following:
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