Missed deadline to open a Dependant care FSA

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cousindan
Posts: 23
Joined: Sun Jan 07, 2018 9:54 am

Missed deadline to open a Dependant care FSA

Post by cousindan » Mon Feb 11, 2019 10:58 pm

Enrollment period closed before we realized we could use a dependent care FSA. The attraction of course is to pay for daycare expenses with pretax dollars. This year we will have >5K dollars in dependent care eligible care. Is there a way to claim these expenses on next years taxes and get a tax deduction so effectively it is the same as having a DC_FSA.

Is it possible to open a dependent care FSA mid year or outside my employer?

nerdymarketer
Posts: 121
Joined: Mon Sep 02, 2013 8:18 pm

Re: Missed deadline to open a Dependant care FSA

Post by nerdymarketer » Tue Feb 12, 2019 1:34 am

I know that once enrolled, it is possible to change the election amount mid-year. Typically this is easier than other FSAs, such as health, because you only need to substantiate a change in daycare costs.

However, I do not know whether this requires you to be already enrolled or if you can enroll late.

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