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Deductions & credits
When you list your qualifying expenses (maximum $16,000) and report that you had a $5000 FSA, the remaining $11,000 will be eligible for the child and dependent tax credit. This is a maximum 50% credit, with a phase-out to 20% that is triggered when your income is more than $125,000.
The draft form and instructions are here if you want to calculate it.
‎December 8, 2021
10:48 AM