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Deductions & credits
Did you max out your FSA for the year? if you did, you cannot max out an FSA and then get an additional credit. Please read this Turbo Tax link for additional information.
If you haven't maxed out your FSA and wish to report the child care service that your son's aunt provided, you will need to report her information and social security number in the return. She will need to report this income she received in her own tax return as taxable income. Rather she will want to do this or not is a decision that you both will need to make. To report:
- Go to tax tools
- tools
- topic search
- type in 2441
- Here is where you enter the information to get the credit.
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March 25, 2020
3:08 PM