Do I need a corrected w2? Box 10 on my w2 shows $1600 dependent care reimbursement however I did not collect the funds they were forfeited to the employer afterseparation

Forum|Forum|2 years ago
January 24, 2024
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I had missed the deadline to withdraw the DCFSA funds due to my employer not notifying me of a deadline (60 days) after separation. The funds were forfeited back to my prior employer. Now that amount is showing on box 10 of my w2. Is it taxable income? Or is it going to effect my tax credits considering I did not actually receive the funds I want to be sure before filing.

TurboTax Online

Best answer by Opus 17

Your W-2 is correct. As part of the dependent care interview, you will indicate the funds were forfeited. There won’t be any additional tax or penalties for this situation.

Opus 17Answer

Employee

Your W-2 is correct. As part of the dependent care interview, you will indicate the funds were forfeited. There won’t be any additional tax or penalties for this situation.