Dependent Care FSA

[sarah865]

I received my W2 this year and found there was $1000 listed in box 10. I have never had this before and was unsure what it was. After some research I realized I accidentally signed up for Dependent Care FSA last year. I didn't receive that money or use it at all. I don't have any dependents at all.

Can I get that money back? If so, how?

When completing my taxes it asks for this amount and then my tax refund decreases. Am I being taxed for money I never received?

[Opus 17]

FSAs are use it or lose it, there is no way to get the money back.

When entering your W-2, you may be asked about the amount in box 10, did you forfeit any amount?  If the question is not in the w-2 interview, you need to run the dependent care credit interview.  You will indicate that you forfeited the money, that you had no qualifying expenses.  The benefit is not added back to your taxable income if you forfeited it, but it would be added back to your income if you received it as reimbursement but had no qualifying expenses.  You need to run the correct interview to tell the program it was forfeit. 

[sarah865]

Thank you @Opus 17  for your fast response. I am so disappointed about the FSA since it was a mistake made when completing. 

When completing the taxes it asks the amount in Box 10, but doesn't ask about any forfeiture. Before submitting, I receive a potential flag asking if I want to add dependents. Of course, I don't because it was a mistake made with my FSA sign up.  What is a dependent care credit interview? How do we do that?

[Opus 17]

@sarah865 

Go to the Deductions and Credits page and look for the "You and your family" section.  If you don't see it, you may have to select something like "let me choose what to work on" or "show me more deductions."  (Sometimes, turbotax only shows you things it thinks you need.)

Then go to "Child and Dependent Care Credit" and click "start."