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FSA? Do I compute that in on my return anywhere???

 
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2 Replies

FSA? Do I compute that in on my return anywhere???

For a dependent care FSA, yes.  The amount is reported in box 10 of your W-2. This should trigger, or you must go to, the Dependent Care Credit section of the Deductions page, and answer questions about your qualifying children or child, the care provider, and the amount paid.

 

For a medical FSA, yes kinda-sorta.  A medical FSA does not go on your tax return, you do not report the amount you spent, or the amount left over.  However, you can't take a deduction for expenses paid for with an FSA.  In the interview for medical expenses, Turbotax will ask for your total medical expenses, then will ask for any expenses paid from tax-free accounts like an HSA, FSA, or other tax-free reimbursement.  And then Turbotax will do the subtraction and calculate if you have any deductible expenses leftover to claim. If you know you don't have enough medical expenses to qualify for a medical deduction and skip that section, you won't be asked about a medical FSA anywhere else.

HelenC12
Expert Alumni

FSA? Do I compute that in on my return anywhere???

Your FSA contributions are listed on your W-2 Box 10 and is entered as you enter your W-2 information. 

 

If your FSA is for Dependent Care Benefits (Daycare/babysitting), yes, you'll need to enter your Daycare/babysitter information.

  • TurboTax will prompt you to enter the information.
  • You may also quickly get to that section of TurboTax by entering dependent care benefits in the search box and selecting "Jump to dependent care benefits".
  • The information will appear on tax Form 2441: Child and Dependent Care Expenses.

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