We paid childcare last year and funded our FSA with about $3800. However that $3800 is showing up on my W2 as a benefit (box 10), so it doesn't appear to be of great benefit if it's still being taxed. Am I understanding this correctly?
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It is not being taxed. Box 10 amounts get transferred to your Child Care Form 2441, to show the amount of expenses paid through work, as opposed to an amount you may have paid separately to the provider.
It is not being taxed. Box 10 amounts get transferred to your Child Care Form 2441, to show the amount of expenses paid through work, as opposed to an amount you may have paid separately to the provider.
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