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Deductions & credits
Box 10 in my W-2 indicates $5000 but that was money I elected to take out of my paycheck and put into a dependent care FSA throughout the year; it was not additional dependent care support from my employer.
I'm confused as to why my dependent care tax credit is reduced/eliminated because I put money in an FSA.
1) Should I check with my employer as to whether it's an error on my W2? and
2) If it's not an error, and contributing to a dependent care FSA reduces/eliminates my dependent care tax credit, is it better to not have a dependent care FSA?
‎February 20, 2024
11:50 AM