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What are the dollar limits that I can set aside for transit and/or parking expenses?

April 26, 2017aside dollar expenses limits parking transit

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What are the dollar limits that I can set aside for transit and/or parking expenses?

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For 2009, you can set aside up to $230 each month for qualified parking benefits. You can set aside up to $120 each month for transit pass expenses and commuter highway vehicle expenses combined. The monthly election limits are set by the Internal Revenue Service (IRS) and may be adjusted annually.