Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Oct 26, 2022 10:35:09 AM

Flexible Spending Account

What is a FSA and how can I use it for childcare?

0 1 256
1 Replies
Expert Alumni
Oct 26, 2022 10:41:38 AM

Hi Hayleemphillips

 

A Flexible Spending Account (also known as a flexible spending arrangement) is a special account you put money into that you use to pay for certain out-of-pocket health care costs.

 

A Flexible Spending Account is NOT eligible for daycare expenses, however, a DependentCare FSA is eligible.

 

A Dependent Care FSA (DCFSA) is a pre-tax benefit account used to pay for eligible dependent care services, such as preschool, summer day camp, before or after school programs, and child or adult daycare