Dependent Care FSA

[BeejNem]

Hello Everyone.

TurboTax is asking what my FSA Ending Balance is at the end of December 2023. Our FSA runs from July to June. Since it will end in July, I have not really file for any reimbursements yet for any of our child care expenses from July to December of 2023 (so I have not tapped into my FSA fund yet).

How will that affect my tax refund? 

Thank you!

[RobertB4444]

You should treat it as though you have already filed for those reimbursements.  If you are going to be reimbursed for those expenses then you should not be deducting them on your return.

@BeejNem 

[BeejNem]

Thanks, Robert.

This is our first time using FSA and I decided to wait till close to end of FY 2024 to gather all our Preschool expenses and file for reimbursement. That question about our FSA balance threw me off guard.