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cclove11
Level 1
April 13, 2025
Question

IRC125

  • April 13, 2025
  • 1 reply
  • 0 views

how do we know if this is taxable?

    1 reply

    MaryK4
    MaryK4
    Level 15
    April 13, 2025

    It depends on what the benefits were- if you received the cash payout, it is taxable but most other benefits, if used for the stated purpose are tax-free. For example, if you had Child Care benefits and used them to pay child care expenses, it is tax free.  

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