I have a $10,500 dependent care flex spending account. I entered this information in TurboTax. I then filled out the section on Child and Dependent Care Credit. I entered $10,000. There is a Note that says "You have $10,500 employer-provided benefits. In order to receive this credit, your expense below must be more than this amount. "
The amount I entered was less than $10,500. After I enter this amount ($5000 for each child), the amount listed in TurboTax is still $0 for each child. I assume this is because the total is below $10,500. But here is the strange thing: Despite those numbers being $0, when I entered them it increased by Federal Tax refund by several thousand dollars. Is this right? Seems unlikely since the amount is less than $10,500.
Basically, I have no idea what is going on! Thanks.
