The dependent care fsa limit remains fixed (with no inflation adjustment) at $5,000. To ensure you don’t exceed the irs limit for calendar year 2024, your contributions will stop between october 7 and december 31, 2024.
This is unchanged from 2023. Due to the irs “use it or lose it” rule, you will forfeit any money remaining in your 2024 dependent care fsa after december 31, 2024, if you have not filed a claim for it by march 31, 2025.
The Amount Goes Down To $2,500 For Married People Filing Separately.
Internal revenue code §129 sets the annual dependent care fsa contribution limit at $5,000 (or $2,500 for married individuals filing separately).
The 2023 Dependent Care Fsa Contribution.
I’m trying to figure out if i need to claim the child care tax credit on our return (mfj) this year.
Images References :
Dependent Care Fsa Limits For 2024.
It explains how to figure and claim the credit.
Danielle Harrison, Cfp®, Discusses The Dependent Care Fsa Vs.
What are the 2024 allowable amounts for the dependent care assistance program (dcap)?