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Deductions & credits
Just saw this. Is that really the case? That seems a bit illogical. If I'm paying into an FSA account and spending the money on child care, and I'm a parent, why shouldn't I be able to deduct those expenses. My reading of the IRS instructions seemed to suggest that I'm not entitled to any type of child tax credits. But I don't want those credits. I simply want my FSA reimbursements to be qualified as not taxable. In other words, the FSA amount should be excluded from taxable income.
March 8, 2021
3:13 PM