What dependent care expenses are eligible for reimbursement through the Flexible Benefits program?
Reimbursable dependent care expenses are generally defined as those that are eligible for a tax credit on your federal tax return. If you are married your spouse must be employed (unless disabled or attending school full-time), and the dependent care expense must be for the specific purpose of allowing both you and your spouse to work (attend full-time classes or care for him/herself in the case of disability). The amount of reimbursable expenses cannot exceed the lesser of either your earnings or those of your spouse. The overall maximum dependent care deduction is $5000 per year. If you are married and file a separate income tax return, the annual maximum is $2,500. In the event of a disabled spouse or full-time student, the dependent care deduction is limited to $200 per month for one (1) child or dependent and $400 per month for more than one (1) child or dependent. Dependent care expenses can be for the care of any legal dependent under the age of 13 or any other dependent who is
Related Questions
- If I use the Flexible Benefits program for dependent care expense, what impact will it have on the federal child care tax credit?
- What expenses are considered eligible expenses under the UT FLEX medical expense reimbursement FSA program?
- What expenses are not eligible for reimbursement under the Dependent Care Flexible Spending Account?
