Solved
Turbotax is saying that we don't qualify for the Child care credit. We contributed $4750 to the dpendent care FSA and our total expense was $6,109.
Hi,
I paid for $6109 on my child’s after school care. Out of that, I got $4750 reimbursed via DCA (dependent care FSA). The turbotax is not allowing me to claim the credit for remaining $1359. It says
“Based on your tax situation, the maximum credit you qualify for is $3,000. Before you can use your $6,109 in care expenses to get this credit, the IRS reduces the $3,000 limit for each dollar received from your employer for childcare benefits. Since you received $4,750 in childcare benefits, the $3,000 is reduced to $0.”
Could you please confirm if this is correct?
I paid for $6109 on my child’s after school care. Out of that, I got $4750 reimbursed via DCA (dependent care FSA). The turbotax is not allowing me to claim the credit for remaining $1359. It says
“Based on your tax situation, the maximum credit you qualify for is $3,000. Before you can use your $6,109 in care expenses to get this credit, the IRS reduces the $3,000 limit for each dollar received from your employer for childcare benefits. Since you received $4,750 in childcare benefits, the $3,000 is reduced to $0.”
Could you please confirm if this is correct?
