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Maximum FSA transit deduction is $260. But if balance on FSA debit card is $390 because I didn’t spend the whole $260, can I spend the full balance of $390 the next mo.?
FSA admin companies say “No, you can’t spend over $260 a month on transit pass.” But the payroll deduction itself is the “tax event” not the subsequent purchase of a transit pass. So why would IRS care?
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June 3, 2019
6:19 PM