KYCPA100
Level 1
W-2 reports $3,000 in Box 10. The $3.000 is a employee elected contribution to a Flexable Spending Account. The $3,000 was spent for dependent care of a 1 year old child. Taxpayer has $250,000 of adjusted gross income on a joint return. Lacerte program is treating the $3,000 as an addition to taxpayers wages. Is this correct.
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