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Retirement tax questions
If you have a medical FSA, your employer should reduce your W-2 box 1 taxable wages by the amount of the FSA. That's how you get a tax savings, because it is removed from your taxable income before you even start your tax return. If you think your W-2 is not correct, check with your employer.
Then, you don't list the expenses you reimbursed with the FSA as expenses for the itemized deduction, and the FSA is not reported anywhere else on your tax return.
If you have a Dependent Care FSA, that is supposed to be listed on your W-2 in box 10, and that will trigger Turbotax to ask about your dependent care expenses.
March 20, 2023
4:47 PM