Taxact in the Federal interview asks me whether I made any contributions to a medical flexible spending account, but there is nothing in box 14 of my W2. Why is the question asked? I did contribute and spend it all - unfortunately I didn't have enough withheld, or I would have been better off. Do I have to answer? I think I can look it up on my paycheck stubs. Where in the tax calculations will it be relevant?
-- Best regards Han email address is invalid
It's relevant with respect to Schedule A medical deductions. You cannot use expenses paid with flex money as a Schedule A deduction. IRS Publication 502. If you know that you won't reach the 7.5% of AGI floor for allowable medical expenses, just tell it "no" for both the flex contribution and medical expenses.
-- Phil Marti Clarksburg, MD
Thanks, Phil!
-- Best regards Han email address is invalid
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