Using Turbo Tax, my housing allowance is placed on line 53 (form 1040) as a tax credit. A year ago, a tax preparer put it on line 21 as negative income (less $xxxx). Which is correct?
Thank you for your reply. It confirms my suspicion that Turbo Tax is incorrect (line 53).
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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...posted on: Is a Pastor's Retirement Gift Taxable?