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$1000 Childcare Credit eligibility
Turbo tax auto added this to my return but we take the $5000 health savings acct option and I thought you could not do both
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June 6, 2019
5:53 AM
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Also, I am presuming that the 5000 FSA (not HSA) was entered in Box 10 of your w2.
June 6, 2019
5:53 AM
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Just one kid. TT is giving the $1000 credit but we use the FSA acct (Line 10) and I can't override to remove the $1000 credit.
June 6, 2019
5:53 AM
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Please review the answer I posted. This must relate to your response in the W2 area.
June 6, 2019
5:53 AM
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ie. You put a value in Leftover amount field. Nothing else would permit you to get this credit.
June 6, 2019
5:53 AM
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I went back and even cleared the Leftover entry so nothing was typed in that space (even though all that was there was $0.00), and it is still taking the credit
June 6, 2019
5:53 AM
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turbo tax knows this area pretty well. Please verify that you received the credit on your tax return:
My Account-Tools-View Tax Summary-Preview 1040. Verify line 49 and also see if it appears that your wages are $5000 higher on Line7.
My Account-Tools-View Tax Summary-Preview 1040. Verify line 49 and also see if it appears that your wages are $5000 higher on Line7.
June 6, 2019
5:53 AM
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FYI, I will have to step away soon : /
Can I get your assistance soon if I can't return to this for a couple hrs?
Can I get your assistance soon if I can't return to this for a couple hrs?
June 6, 2019
5:54 AM
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Are you confusing the 1,000 Child Tax Credit with the Child Care Credit?
June 6, 2019
5:54 AM
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Line 7 is greater by $5000????And, line 49 is where the credit would be. You don't have one now .
I'm not really sure there's a problem here...perhaps you are, in part, confusing the child tax credit. A 20% credit on $5000 would be $1000, and the CTC is also $1000, so lets be sure those aren't confused.
I'm not really sure there's a problem here...perhaps you are, in part, confusing the child tax credit. A 20% credit on $5000 would be $1000, and the CTC is also $1000, so lets be sure those aren't confused.
June 6, 2019
5:54 AM
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Aha - that's it! Of course, overlooked the obvious. Thank you for walking me to it!
June 6, 2019
5:54 AM
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Do you have 2 or more children? Also, is it a credit of $1000 or expenses of $1000?
If you have 2 kids, you can receive a credit on the extra $1000 ($6000 for 2- $5000 max FSA). This would probably be a credit of $200.
If you are showing an actual credit of $1000, you may have indicated the following after entering the W2:
- Edit W2, keep pressing Continue until you see the screen -
- Did your employer provide on-site child care?
If you indicate in this area that you had a leftover amount in the FSA, you can receive a credit and exclude the $5000. Please review your responses to ensure you have answered correctly.
June 6, 2019
5:54 AM