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Can't use Dependent Care FSA due to no spouse income. If I don't seek a reimbursement from FSA will my taxable income still go up?
I enrolled in my company's dependent care to cover PRE-K expenses not being aware that you can't use it if your spouse has no income; what happens now? I have yet to request a reimbursement from FSA funds. Should I willingly forfeit FSA reimbursements? If I do will my taxable income remain the same or no matter what I do will my taxable income go up as if I didn't have an FSA? If my taxable income will increase equal to what I contributed to my FSA, I guess I should seek reimbursements. Correct?
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May 31, 2019
6:03 PM