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What is a Flexible Spending Arrangement (FSA)?

SOLVEDby TurboTax4249Updated December 29, 2021

A Flexible Spending Arrangement (FSA) is a special account you set up with pre-tax contributions to use for medical or dependent care expenses.  These contributions aren't included in your taxable wages reported on Form W-2. You can pay from or be reimbursed from your FSA account as you incur expenses.

Amounts contributed to an FSA aren't subject to federal income tax, Social Security tax, or Medicare tax, allowing your medical or dependent care expenses to be paid with pre-tax rather than after-tax income.

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