Do employees have to include any special reporting on their tax return (1040 Form) about their contributions to the Flexible Benefit Plan?
An employee who elects a Dependent Care FSA needs to attach a Child and Dependent Care Expenses form to his/her tax return (form 2441 for a 1040 return; Schedule A for a 1040A return). Box 10 on the employee’s W-2 form should indicate the total annual amount of Dependent Care FSA deductions. The participant should contact a tax preparer for more details. Information about a Medical FSA does not need to be reported for income tax purposes. The total earnings reported on the W-2 from will exclude any pre-tax payroll deductions.
Related Questions
- I know about BBQs, the form for Notice of Commendation, appreciation days, and evaluations to recognize employees. But, what is the Special Commendation referred to elsewhere in these FAQs?
- Do employees have to include any special reporting on their tax return (1040 Form) about their contributions to the Flexible Benefit Plan?
- Am I required to include any special reporting on my tax return (1040 Form) regarding contributions to the QTE Plan?
