Dear friends at Turbotax community,
I was filing the 2024 tax return with Turbotax, and as the first few steps I was asked about Flexible Saving Account contribution (Childcare). I thought my wife and myself did not contribute anything so I entered "0". Later my wife told me that she did contribute, but I am having a very difficult time to find the way back to the page so that I can enter her contribution. Could you please let me know how I can correct this?
Thank you!
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With a Dependent Care Flexible Saving Account, you use pre-tax dollars to pay qualified out-of-pocket dependent care expenses. The money you contribute to a Dependent Care FSA is not subject to payroll taxes, so you end up paying less in taxes and taking home more of your paycheck.
Since these salary reductions are contributions to the account and aren't included in your taxable wages on your W-2, you don't enter them as a deduction on your tax return. They may appear in Box 14 of the W-2 for informational purposes only. You can verify this with your employer.
See this TurboTax blog article and this help article for more information.
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