Question

Dependent Care FSA. We contributed 5k in 2020 into the DCFSA but did not use it until our grace period in 2021. how do we report it?

Forum|Forum|5 years ago
March 2, 2021
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Do we wait until the next tax season to file the 5k? Also, for the question "If you had any money left in your account (DCFSA) at the end of the year, enter the amount here. If you used it all, just enter 0.", do i enter $5,000 because i didn't use it in 2020?

TurboTax Deluxe Online

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MAK70

If you did not incur the child care expenses until 2021, you will wait to report until next year. You will enter the $5,000 as the end of the year amount. The IRS has also recently released additional relief for employer child care accounts, so look to see if your employer has made any plan changes that will help you out more.