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Get your taxes done using TurboTax
@Pak1989 wrote:
I do have employer sponsor account so I paid around $10,000 a year for pre school and my employer sponsor me around $5000. Which screen do you think I made a mistake on ?
You are not eligible for any further credit.
The employer benefit reduces your credit eligibility. You can't stack them. If you provide care for one child, the maximum expense eligible for a credit is $3000, and $6000 for two or more children. That is reduced by the amount of any employer benefit (FSA or other employer benefit) reported in box 10 of your W-2. If you had a $5000 employer benefit, you are not eligible for any further credit if you provided care for one child, and you could claim $1000 of expenses for the credit if you provided care for 2 or more children ($6000 max minus $5000 employer benefit).