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Level 1
June 1, 2019
Question

We have claimed $5,225 from our FSA for Dependent Care. We have exceeded the eligible amount by $225. How do we correct this using turbotax?

  • June 1, 2019
  • 1 reply
  • 5 views

Both employers allowed us to contribute to a FSA for Dependent Care. We did not realize there was a $5,000 limit for those filing jointly. In the year we claimed $5,225 and are $225 over the allowed amount. 

1 reply

June 1, 2019

You would correct the future withholding amount by talking to your HR or payroll person.  For 2017, just enter your W-2s as they appear and fill out the child care interview.  the program will make the excess amount taxable.