Most Popular Questions
No. Per IRS rules, the total that each family can elect for a Dependent Care FSA (DCFSA) must not exceed $5,000 per household ($2,500 each if married and filing separately). Therefore, you must ensure that you and your spouse limit your individual elections to total no more than $5,000 combined.
A DCFSA allows you to be reimbursed on a pre-tax basis for child or dependent care expenses for qualified dependents so you or your spouse can go to work, look for work, or your spouse attend school full-time.
You (and your spouse if you are married) must have earned income during the year; unless your spouse attend school full-time.
Under Internal Revenue Code Section 129 (see sections 129(a)(2)(A) and 129(b)(1)), the maximum amount that can be elected for a DCFSA is limited to the lesser of: