- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
This is super helpful, thank you! It matches what I found out as I talked to the employer that forgot to include the info in box 10. They added it, I added it to TurboTax, and the credit went away. Though, I believe I'm in the 12% tax bracket. The number for box 10 was $5000, but $1250 was left over at the end of the tax/calendar year since our FSA is on an academic year (my husband is a teacher). $5,000-$1,250=$3,750 and $3,750*0.12 = $450... so wouldn't I get $150 of the credit? Unless I'm in a higher tax bracket which I don't think we are (as I said, my husband is a teacher :).
Also, I do report the medical FSA as a "reimbursement" in my health care expenses, correct?
Thank you!
‎July 15, 2020
5:23 PM