I started a FSA for dependent care in 2017, but I'd rather pay expenses & claim the tax credit when I file my taxes. I changed my mind. Can I switch to tax credit?

5 replies
40 views

Can I use first deposit into FSA & then pay the rest of my 2017 childcare expenses out of pocket and still claim a tax credit?

TurboTax Deluxe Online

Opus 17

Level 15

You probably can't cancel the FSA, you would have to ask your employer.

If you can cancel, you can apply remaining expenses to the dependent care credit.

But, the FSA saves more money for everyone whose income is more than about $18,000 per year.

PiratesFanAuthor

Level 2

Thank you. So I could theoretically split between an FSA and a dependent care credit as long as I don't claim tax credit for any expenses that was paid for out of the FSA, correct?

I started a FSA for dependent care in 2017, but I'd rather pay expenses & claim the tax credit when I file my taxes. I changed my mind. Can I switch to tax credit?

5 replies

Unlock tailored help options in your account

Get answers to all your tax questions

Unlock tailored help options in your account

Get answers to all your tax questions

Sign up

Login with SSO

Let's get you signed in

Login with SSO