What are qualified dependent/child care expenses?
Individuals whose care can be reimbursed under the Flexible Compensation Plan include, but are not limited to, the following dependents: children age 12 or younger, disabled spouse, or other disabled dependent. Eligible expenses include payment for a day care center, private babysitter, nursery school or nursing home. Eligible expenses cannot be more than your income for the year, or more than your spouse’s income, if lower. Payments to your own child under age 19, or to a dependent you claim for tax purposes, are not eligible expenses. For a more detailed listing of allowable expenses, refer to IRS publication 503 (http://www.irs.gov/pub/irs-pdf/p503.pdf). Federal law requires that Reimbursement Account participants provide the Tax Identification or Social Security number of the dependent care provider on the reimbursement claim form as well as one’s personal federal income tax return. Q: How much may I contribute to a reimbursement account? A: There is no minimum contribution for eit
