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Posted by Han on March 20, 2007, 3:24 pm
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>> 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?
> 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.
Thanks, Phil!
--
Best regards
Han
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