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Level 2

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

 
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Level 14

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

If you are referring to a Dependent Care FSA, the contribution limit is $5,000 for a married couple fling jointly, or $2,500 per parent if filing separately.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

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Level 15

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

You can but there is no benefit for doing so ... the excess will simply be added back into your income  on the tax return so you will gain nothing.  

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Level 2

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

What if I spend over $10,000 a year in childcare? I don't plan to have any excess. 

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Level 14

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

If you are referring to a Dependent Care FSA, the contribution limit is $5,000 for a married couple fling jointly, or $2,500 per parent if filing separately.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

View solution in original post

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Level 15

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

You can spend a million dollars on child care ... but the limit on the day care credit  form 2441 is $5K per the IRS regs ... so although the employers may allow you both to put $5K in the FSA it will do you no good.  

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Level 2

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

Thank you, I think this is the answer I needed. But now I have another. If we file jointly does it matter which withholds the money since we don't make the same amount?

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Level 2

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

Thank you, I think this is the answer I needed. But now I have another. If we file jointly does it matter which withholds the money since we don't make the same amount?

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Level 14

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

<<If we file jointly does it matter which withholds the money since we don't make the same amount?>>

 

No, not as long as you file jointly and the total combined contribution does not exceed $5,000.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.**

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Level 2

Can I withhold $5,000 of pre-tax dependent daycare and have my wife do the same to withold a total of $10,000?

Thank you so much I appreciate your help so we can make educated decisions. 

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