I have 2 kids and can claim up to $16000 Child Care Tax Credit, with 50% tax return.
But I also contributed $5000 Child Care FSA. My company allows me to rollover all the $5000 to 2022.
If I reimburse $5000 of the day care fee, I would only be able to claim $11000 Child Care Tax Credit.
Question is, can I rollover the $5000 FSA and claim the full $16000 Child Care Tax Credit? Those $5000 will show up in my 2021 W2 form I believe since I see it in my 2020 W2.
Will TurboTax handle this or I have to reimburse those $5000 and then claim up to $11000 child care credit?
