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Deductions & credits
There are different types of flexible spending accounts: dependent care flexible spending accounts or health care flexible spending accounts.
Dependent care spending accounts allow employees to set aside up to $5,000 each year to cover the costs of caring for a dependent child or aging parent. These contributions are reported in box 10 of your W-2 and then offset with the childcare expenses on Form 2441.
Healthcare spending accounts allow employees to set aside up to $2,700 from their 2019 salary to cover medical expenses they anticipate incurring during the year. These amounts are not required to be included on your W-2.
If you had a medical FSA, you may have a reporting error on your W-2. Contact your employer to get this corrected.
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March 1, 2020
8:35 PM