Deleted
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Post by Deleted on Jan 29, 2011 14:50:29 GMT -5
TP works for a school district and claims his FSA account runs from September to August (I have never heard of an FSA that is not for the calender year). In Sept of 2010 he started having deductions taken out for dependent care but child did not start day care until January of 2011. Box 10 of his W-2 shows the amount he had deducted from his pay. But Form 2441 is only for expenses actually paid in 2010 and none were paid. Is this going to cause problems when the IRS sees the amount in box 10 and no form 2441 to report the expense? How should this be reported on the 1040?
Thanks.
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mwcpa
Senior Member
Joined: Jan 7, 2011 6:35:43 GMT -5
Posts: 2,425
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Post by mwcpa on Jan 29, 2011 16:29:58 GMT -5
yes, the TP will have an issue for 2010... the amount witheld from his check and unspent in 2010 is generally added to his wages.. and if you do not report it in about 2 years the TP will get a CP-2000 notice.. asking for tax and interest... get copy of the instructing to 2441 www.irs.gov/pub/irs-pdf/i2441.pdf there are some exceptions to the general rule... see line 14 of form 2441 www.irs.gov/pub/irs-pdf/f2441.pdf |
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