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For the Child Care Tax Credit, Turbotax doesn't ask if the payments were made through an FSA. Do I enter the total & TT figures it out, or do I just have to know?
For the Child Care Tax Credit, Turbotax doesn't ask if the payments were made through an FSA. Other than a question about having an unspent balance, it didn't ask me details about my FSA anywhere else either. Do I enter the total & Turbotax figures it out, or do I just have to know to enter only expenses that were not paid with FSA dollars?
If so, that's a big shortcoming on Turbotax's part.
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For the Child Care Tax Credit, Turbotax doesn't ask if the payments were made through an FSA. Do I enter the total & TT figures it out, or do I just have to know?
Your FSA amount is included in Box 10 of your W-2. If you enter the amount in Box 10, the program will ask you a couple of questions in the W-2 input screens regarding child care and your FSA.
The program will then automatically take your FSA amount from Box 10 of your W-2 into account for calculating your Child Care Tax Credit.
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For the Child Care Tax Credit, Turbotax doesn't ask if the payments were made through an FSA. Do I enter the total & TT figures it out, or do I just have to know?
Your FSA amount is included in Box 10 of your W-2. If you enter the amount in Box 10, the program will ask you a couple of questions in the W-2 input screens regarding child care and your FSA.
The program will then automatically take your FSA amount from Box 10 of your W-2 into account for calculating your Child Care Tax Credit.
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For the Child Care Tax Credit, Turbotax doesn't ask if the payments were made through an FSA. Do I enter the total & TT figures it out, or do I just have to know?
Can I recommend a note in the program stating something like: If you use an FSA, we're already taking that into account.
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