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I have a 5,000 childcare FSA, but spent ~11,000. Why can't i claim that extra 6,000 for the Dependent Care Credit?
This is the explanation that I don't understand:
Even though you had $10,904 in care expenses, your situation allows you to claim only up to the $5,000 that you contributed to your employer's dependent care plan for this credit. Since your $10,904 of care expenses is more than this limit, your credit amount is $0.
Shouldn't I be able to claim all expenses?
Even though you had $10,904 in care expenses, your situation allows you to claim only up to the $5,000 that you contributed to your employer's dependent care plan for this credit. Since your $10,904 of care expenses is more than this limit, your credit amount is $0.
Shouldn't I be able to claim all expenses?
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May 31, 2019
7:19 PM