I have an IRS tax question. Using Turbo Tax, my housing allowance is a "credit" ammount appearing on line 53. Last year a tax preparer put it under "income," line 21 as negative income ("less housing allowance"). Which is correct?
In my original request, I should have said that I am retired and receive a CRC pension which, via Synod, can be used toward housing allowance. If I report the pension on line 16a where do I deduct the ammount attributable to housing--16b? or 21 (as the tax preparer did last year)? or on line 53 as Turbo Tax does?
Posted in: Is a Pastor's Retirement Gift Taxable?
I have an IRS tax question. Using Turbo Tax, my housing allowance is a "credit" ammount appearing on line 53. Last year a tax preparer put it under "income," line 21 as negative income ("less housing allowance"). Which is correct?
Thanks
Harvey
Posted in: Pastor Housing Allowance on IRS 1040?
Thanks John,
In my original request, I should have said that I am retired and receive a CRC pension which, via Synod, can be used toward housing allowance. If I report the pension on line 16a where do I deduct the ammount attributable to housing--16b? or 21 (as the tax preparer did last year)? or on line 53 as Turbo Tax does?
Harvey
Posted in: Pastor Housing Allowance on IRS 1040?
Thank you for your reply. It confirms my suspicion that Turbo Tax is incorrect (line 53).
Harvey