Statements (44)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
Flexible Spending Account
|
| gptkbp:alsoKnownAs |
gptkb:Dependent_Care_Flexible_Spending_Account
|
| gptkbp:annualElectionRequired |
Yes
|
| gptkbp:availableOn |
Employees
|
| gptkbp:benefit |
Employee benefit
Pre-tax contributions |
| gptkbp:canBe |
Care provided by a parent of the child
Dependent's education expenses Household services not related to care Medical expenses Care provided by a spouse or dependent under age 19 |
| gptkbp:contributionLimit2024 |
$2,500 if married filing separately
$5,000 per household |
| gptkbp:country |
gptkb:United_States
|
| gptkbp:eligibility |
gptkb:Elementary_School
gptkb:Daycare Child care Adult day care Before and after school programs Children under age 13 Spouse or dependent incapable of self-care |
| gptkbp:employerSponsored |
Yes
|
| gptkbp:forfeitureRule |
Unused funds are forfeited
|
| gptkbp:fundedBy |
Employee payroll deduction
|
| https://www.w3.org/2000/01/rdf-schema#label |
Dependent Care FSA
|
| gptkbp:IRSCodeSection |
Section 129
|
| gptkbp:maximumReimbursement |
Limited to amount contributed
|
| gptkbp:midYearChangeAllowed |
Only with qualifying life event
|
| gptkbp:notEligibleExpenses |
Kindergarten tuition
Overnight camps Schooling for children in first grade or above |
| gptkbp:planAdministrator |
Employer or third-party administrator
|
| gptkbp:planYear |
Typically calendar year
|
| gptkbp:preTaxSavings |
Reduces taxable income
|
| gptkbp:purpose |
Pay for dependent care expenses
|
| gptkbp:regulates |
gptkb:Internal_Revenue_Service
|
| gptkbp:reimbursementMethod |
Submit claims for eligible expenses
|
| gptkbp:relatedTo |
gptkb:Child_and_Dependent_Care_Tax_Credit
Health Care FSA |
| gptkbp:taxReporting |
Reported on employee's W-2
|
| gptkbp:taxStatus |
gptkb:Form_2441
|
| gptkbp:useItOrLoseIt |
Yes
|
| gptkbp:bfsParent |
gptkb:Dependent_Care_Flexible_Spending_Account
|
| gptkbp:bfsLayer |
7
|