I'm unable to understand the how dependent care expenses are being calculated in my case. Both me and my wife contributed $5000 to Dependent care FSA, totaling $10,000. And our expenses towards the care for our two children were $10,232. So, following are my questions:
- Even though me and my wife contributed to Dependent care FSA, are we still limited to $6000 for both the children?
- Do we need to pay back taxes for $10,000 - $6000 = $4000 ? And why don't I see this number anywhere? I see being taxed for $5000, which doesn't match with $4000
- Where is the number $11,000 coming from in the picture below ?
