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What do I answer for "Any leftover money from child care FSA?" My company plan yr is b/w 7/1 to 6/30 and have money left over. Should I say 0 or balance as on 12/31/2018?

 
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4 Replies
Anita01
New Member

What do I answer for "Any leftover money from child care FSA?" My company plan yr is b/w 7/1 to 6/30 and have money left over. Should I say 0 or balance as on 12/31/2018?

Balance as of 12/31/2018 would be the correct entry.

What do I answer for "Any leftover money from child care FSA?" My company plan yr is b/w 7/1 to 6/30 and have money left over. Should I say 0 or balance as on 12/31/2018?

Just ran into a same question that was posted an year back (<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4166827-dependent-care-fsa-leftover">https://ttlc.intuit.com/quest...>) but seems like the answer there was different. My situation is also the same i.e I plan to burn the amount by end of 6/30.
Anita01
New Member

What do I answer for "Any leftover money from child care FSA?" My company plan yr is b/w 7/1 to 6/30 and have money left over. Should I say 0 or balance as on 12/31/2018?

That answer is incorrect.  The amount in Box 10 is transferred to the 2441.  You entered an incomplete question here.  The question specifically asks "...at the end of the plan year?" so if you expect to have none left by then, you would enter zero.

What do I answer for "Any leftover money from child care FSA?" My company plan yr is b/w 7/1 to 6/30 and have money left over. Should I say 0 or balance as on 12/31/2018?

Sorry for an incomplete question, apparently I was limited to type in only 170 characters while asking question an hence might have missed the key part.

So, if I understood it right the "plan year" refers to (7/1 to 6/30) rather than the tax defined year (i.e 1/1 to 12/31). And yes, I expect to have none left by 6/30/2019 and use all of the money. So based on your recent comment I should enter zero. Is my understanding correct?
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