Last year rebecca set aside $5000 pretax dollars for child care in a flexible spending account. she only used $3200. what happened to the remaining $1800?

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Addyson

28 June, 08:54

Last year rebecca set aside $5000 pretax dollars for child care in a flexible spending account. she only used $3200. what happened to the remaining $1800?

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America Miller · Answer 1

A flexible spending account allows an employee to set aside a portion of the earnings to pay for qualified expenses. It is either you 'use it or lose it.' if you haven't used the funds by the end of the year your employer can keep it. This is what happened to the $1800 Rebecca hadn't used.