If your employer provides dependent care benefits under a qualified plan, you may be able to exclude these benefits from your income. Your employer can tell you whether your benefit plan qualifies.
The amount you can exclude is limited to the smallest of:
TaxAct® will calculate your exclusion based on the amount entered in Box 10 of Form W-2 Wage and Tax Statement and the amounts entered as paid to providers within the Child and Dependent Care Q&A.