Dependent Care FSA

I elected $3750 for dependent care for 2019 and my plan runs 7/1/2019-6/30/2020.

I only used $2254 in 2019 with $1496 left to be used by 6/30/2020.

Box 10 of 2019 W2 states I paid $3750.

After adding my W2 and answering yes to "Do you have flexible spending account for child or dependent care. This question appears "Any leftover from your flexible spending account? "

Do I enter $1496 in that field? since I didn't use all my fund in 2019.

Will this have any affect on my 2020 tax return?

Thanks for your help.

610

Expert Alumni

Apr 14, 2020 11:22:30 AM

Yes, you will need to enter the $1496 as the carryover amount.

This represents either the amount forfeited or, as in your case, carried over to 2020.

That amount will need to be used for Childcare expenses in 2020, or it will become taxable income on your tax return.

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Dependent Care FSA